JSC Sheremetyevo Airport extends bid for takeover of Vladivostok Airport shares

28 October 2014 (Last Updated October 28th, 2014 18:30)

Russia's JSC Sheremetyevo International Airport has extended the acceptance time of statements and offers for the takeover of the shares of JSC Vladivostok International Airport (JSC MAV) and CJSC Terminal Vladivostok from 31 October to 21 November.

Russia's JSC Sheremetyevo International Airport has extended the acceptance time of statements and offers for the takeover of the shares of JSC Vladivostok International Airport (JSC MAV) and CJSC Terminal Vladivostok from 31 October to 21 November.

The extension comes as a result of a request from participants.

A total of five statements regarding interests from major private airport operators and institutional investors have already been received till date. All the potential buyers have been made to sign confidential agreements and have been given access to legal and financial data, along with the scheduled diligence examination.

"A number of the potential buyers from Russia and abroad are scheduled to complete the final stages of their application."

A number of the potential buyers from Russia and abroad are scheduled to complete the final stages of their application.

The airport had announced the formal invitation for the bidding on 21 August. It invited participants to take part in the takeover of 52.16% of JSC Vladivostok International Airport's shares and 74.99% of CJSC Terminal Vladivostok's shares, as well as for acquisition of rights under loan agreements provided to JSC MASH by CJSC Terminal Vladivostok.

In 2008, 52.2% of JSC Vladivostok International Airport's shares were transferred to the management of JSC Sheremetyevo International Airport. It acted as the main investor for the construction of a new terminal at Vladivostok Airport.

Russian corportation Vnesheconombank co-invested in the construction, which began in August 2009. The terminal complex currently accommodates 1,360 people an hour or 3.5 million people a year.

In 2013, Vladivostok Airport welcomed 1.85 million passengers, which marks an increase of more than 14% when compared with 2012.