Thursday, September 21, 2017

OAO TNK-BP Holding agrees to purchase Koltsovo airport fueling complex

OAO TNK-BP Holding, the traded unit of BP Plc's oil venture in Russia, and a group of billionaires has agreed to acquire the Koltsovo airport fueling complex in Yekaterinburg for approximately $100 million.

The board of TNK-BP voted to purchase the Koltsovo fueling unit for $30 million and the Aktiv unit for approximately $70 million, with a potential adjustment for debt, from OAO Airport Koltsovo in Yekaterinburg. The Moscow-based company made the regulatory filing on Monday, Bloomberg reports.

Billionaire Viktor Vekselberg's Renova Group controls Airport Koltsovo in addition to holding a stake in TNK-BP.

The Koltsovo Airport is an international hub for Ural Airlines and Aviacon Zitotrans. It is located approximately 10 miles southeast of Yekaterinburg. The airport, which is Russia's largest regional airport, connects Yekaterinburg with more than 80 cities using 30 Russian and foreign airlines. The airport was granted international status in October 1993.

Renova Group is one of Russia's top private business groups. It includes assets in utilities, nanotechnologies, telecommunications, energy, construction development, mining, machine building, oil and metals mining in Russia and abroad. Along with stakes in TNK-BP, Renova also has stakes in UC Rusal, Integrated Energy Systems, Oerlikon and Sulzer. The group invests in Mongolia, Kirghizia, Latvia, Ukraine, South Africa, Italy, Switzerland and Russia.