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Business news
Pulkovo airport may be auctioned off by 2008
11.22.2006 15:43

Pulkovo Airport Pulkovo (St. Petersburg) airport may be sold off in late 2007-early 2008, the head of the Economic Development and Trade Ministry Property and Land Department said Monday.

Igor Grechukhin said the timeframe for the sell-off of the airport, which is 100% owned by the state, will be set in the second quarter of 2007.

He said the airport will be sold through an auction, adding two auctions will be held, the first with the participation of the St. Petersburg city administration.

The official said the city administration may acquire a blocking or controlling stake in the airport, and then the remaining stake will be sold at the second auction.

Economic Development and Trade Minister German Gref said earlier a 49% stake in Pulkovo airport could be transferred to the St. Petersburg city administration.

Private Russian investment fund Basic Element bought 100% in state-owned Sochi Airport for 5.504 billion rubles ($206.6 million) through an auction earlier Monday.

The auction for the airport in Russia's Black Sea resort city was held by the Federal Property Fund. The starting price was 3.5 billion rubles ($131.14 million)

News source: en.rian.ru
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