S7 Group bought out “Siberia” Airlines from the Government
S7 Group has increased its share in “Siberia” Airlines from 71.59% to 97.09% of its authorized capital.
At the end of July the Russian Government approved alienation of almost 25.5% of “Siberia” shares, being in the federal ownership.
ALPHA Bank has acted as the Government agent in the privatization of the airlines share package. S7 Group has offered the best rice for this package – more than 1.1 billion rubles ($33.4 million) – and has been recommended as the purchaser.
“Siberia” Airlines works under S7 Airlines brand and is a part of S7 Group.
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