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Timchenko Sells Aviation Assets

U.S. sanctions-hit oil billionaire Gennady Timchenko has sold his shares in terminals at Moscow's Sheremetyevo Airport and Pulkovo Airport in St. Petersburg, his spokesman told ITAR-Tass on Wednesday.

Last August, Vedomosti reported that Timchenko was planning to set up a company called A-Group within two months that would manage and consolidate his aviation holdings.

The companies that A-Group was to oversee included, among others, Avia Group, which has a 74 percent stake in Sheremetyevo Airport's business-oriented Terminal A, and Avia Group Nord, which owned 70 percent of Pulkovo-2's business terminal.

The spokesman said Wednesday that Timchenko's shares in the two terminals were sold in March as part of the deal to sell his boss's 49.88 percent holding in Finnish company International Petroleum Products Oy.

He declined to say how much the sale of the terminals was worth. 

See also:

Timchenko's Stroitransgaz Inks $2Bln Irrigation Deal in Syria, Report Says

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