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Moscow Domodedovo considering possible sale: report

21-Dec-2011 11:05 AM

Russia's Moscow Domodedovo Airport has reportedly hired Goldman Sachs Group Inc to advise on the possible sale of the airport. According to initial reports in Interfax, and subsequent reports in other local papers, Sberbank and Basic Element are reportedly among the potential buyers. The airport aborted plans to launch an IPO on the London Stock Exchange in late May-2011, with the airport's management company DME Limited stating the IPO was unable to be priced at a fair valuation due to market conditions at the time. DME Limited sought to raise between USD700 million and USD1 billion through the listing of up to 20% of its stock. Goldman was one of four companies, along with Morgan Stanley, Citigroup and JPMorgan, which had been a bookrunner for the planned IPO. In the IPO run-up, Goldman had reportedly valued the airport at USD3.5 billion to USD7.5 billion, while Citi and JPMorgan Chase gave valuations ranging from more than USD4 billion to just over USD5 billion.