Moscow, Russia. Russia has transferred ownership of Moscow’s Domodedovo airport to a company linked to the operator of Sheremetyevo following a court ruling that nationalised the asset earlier this year.
Court-ordered nationalisation and transfer
In June, a Russian court ordered the nationalisation and transfer of Domodedovo, Russia’s fourth-busiest airport, after finding that its two owners, Dmitry Kamenchik and Valery Kogan, were foreign residents and therefore had no right to manage the asset.
Sale agreement and transaction value
Sheremetyevo, represented by its 100 per cent subsidiary Perspektiva LLC, and Bank PSB PJSC announced the signing of an agreement for the sale of Domodedovo airport, according to a press release. The airport was sold on the second attempt for about $850 million, almost half of the original $1.6 billion valuation.
Sheremetyevo ownership and TPS Avia Holding
Sheremetyevo is majority-owned by private company TPS Avia Holding and the Russian government, which holds a 30 per cent stake, according to Russian business outlet RBC. TPS Avia Holding was transferred from Cyprus back to Russia in 2022, with Russian media listing Arkady Rotenberg, a close associate of President Vladimir Putin, among its shareholders.
Broader context of asset seizures
The Domodedovo transfer follows a wider pattern since Russia sent troops into Ukraine in 2022, with the state seizing assets worth billions of dollars, including those owned by Danone and Uniper. Moscow says the nationalisations are fair and correct failed privatisations from the 1990s, while critics say they have discouraged long-term investment in Russia.
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