Mid-Urals Development Corporation gets 34.56% of Koltsovo Airport’s shares

September 16, 2013. Mid-Urals Development Corporation came to own 34.56% of Koltsovo Airport of Yekaterinburg, the corporation reports. This means Sverdlovsk Region authorities completed the process of handing their share in the business to the corporation, which is run by the local authorities.

According to Kommersant, the shareholding was transferred to the corporation in order to meet the investors’ requirements and thus ensure the development of the airport; the requirements were laid out when the shareholding in Koltsovo was transferred from the federal to the region’s authorities in May 2011. At least 32bn RUR worth of investments must be found by 2030. The shareholding in question used to belong to Sverdlovsk Region Public Property Management Ministry.

The list of affiliated parties as of June 30 states that Koltsovo-Invest (a member of Renova Group) is Koltsovo’s largest shareholder; its stake comes to 52.48%.

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