Irish Company Sells Sheremetyevo Duty Free Stake
- The Moscow Times
- Jul. 10 2013 00:00
- Last edited 20:58
Russian company Arial has consolidated its trading position at Sheremetyevo Airport by buying out the last remaining shares in duty-free retail operator Aerofest from Ireland's Aer Rianta.
Nomos Bank acted as a consultant for Arial and provided the company with a loan to carry out the acquisition, Interfax reported Tuesday.
The bank did not disclose the loan amount, but said that since last year it had provided Arial with loans worth about 3 billion rubles ($90 million).
In January, Arial bought 66.6 percent of Aerofest from Aeroflot for 1.23 billion rubles. The remaining 33.3 percent stake belonged to Aer Rianta International, which entered into the duty-free market in Russia in 1988.