16 June 2004 11:31
Oleg Deripaska wins bid for stake in Kuban Airlines
Russian metals and automotive tycoon Oleg Deripaska has reportedly purchased a 51% stake in Kuban Airlines.
FinanceTekhnoTorg, an investment vehicle tied to Deripaska's Basic Element, won the Federal Property Fund tender
for the Russian airline. The company is said to have bid RUR729.5m, well above the starting price of RUR424.5m.
Deripaska beat four other bidders to secure the stake. Companies linked to Deripaska already owned 29% of the
carrier.
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