Surgutneftegaz to buy 75.64% shareholding in UTair

Russia’s Federal Antimonopoly Service accepted the petition of Surgutneftegaz, a non-state retirement fund, and allowed the company to buy a 75.64% shareholding in OAO UTair Airlines, the Service reports.

UTair, a domestically operating air carrier, is currently one of the world’s top four helicopter giants.

In 2004, the 75.64% shareholding was transferred to OOO Central Surgut Depository from Surgut municipal council and the government of Khanty-Mansiyskiy Autonomous Region. The local authorities actually sold their shares to an outside investor.

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