The development follows a June ruling by a Russian court
ordering that Domodedovo, the country’s fourth-busiest airport, be nationalized
and transferred to state ownership. The court determined that its previous
owners, Dmitry Kamenshchik and Valery Kogan, were foreign residents and
therefore not entitled to manage the strategic infrastructure asset.
In a press release, Sheremetyevo said it had acquired
Domodedovo through its wholly owned subsidiary, Perspektiva LLC, in partnership
with Bank PSB PJSC.
“Sheremetyevo, represented by its wholly owned subsidiary
Perspektiva LLC, and Bank PSB PJSC announce the signing of an agreement for the
sale of Domodedovo Airport,” the statement said.
The airport was reportedly sold at a second attempt for
approximately $850 million, nearly half of the original asking price of $1.6
billion.
Sheremetyevo is majority-owned by private firm TPS Avia
Holding and the Russian government, which holds a 30 per cent stake, according
to Russian business outlet RBC. TPS Avia Holding was redomiciled from Cyprus
back to Russia in 2022. Russian media have previously identified Arkady
Rotenberg, a close associate of President Vladimir Putin, as one of the firm’s
shareholders.
Since Russia launched its military operation in Ukraine in
2022, billions of dollars’ worth of assets have been seized or nationalized by
the state. These have included properties linked to Western companies such as
French dairy group Danone and German energy firm Uniper.
Russian authorities have argued that such actions are lawful
and intended to correct flawed privatizations that occurred during the economic
transition following the collapse of the Soviet Union in the 1990s. Critics,
however, contend that the nationalizations have undermined investor confidence
and discouraged long-term foreign investment in the country.
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