The final offer of S7 Group (which already controls about 70% of Sibir Airlines’ shares) exceeded the starting price by 11 million rubles.

S7 Group (S7 brand is controlled by a married couple – Natalya Fileva and Vladislav Filev) won the auction for 25,5% of Sibir Airlines’ shares (government’s stock) having offered 1,133 billion rubles, Alfa-Bank (organizer of the auction) reported.

Thus the state has finally managed to sell its block of shares of Sibir Airlines after several years. "The buyer, price and other significant details of the deal are subject to approval by government decree", — said in the banks statement. 

The organizer reports that a total of four bids have been received from the potential investors. And only three companies: S7 Group, Evrofinanci-Nedvizhimost and Fondovie Strategicheskiye Systemi have presented qualifying documents. 

It was reported earlier that Transaero may take part in the auction. However, the carrier did not submit any bids to Federal Anti-Monopoly Service or the organizer of this auction. Last week the airline announced that it won’t be taking part in the auction. Mass media reported this week that the state wants Aeroflot to purchase Sibir Airlines. However, CEO of Aeroflot, Vitaly Savelyev, stated that the airline did not receive any offers. 

The airlines of S7 Group – Sibir Airlines and Globus, are performing flights under the brand of S7 Airlines. S7 Airlines is the member of oneworld alliance. Sibir Airlines is not a public company – it does not disclose its accounting reports made in accordance with IFRS. Following the results of 2012 the company’s net profit was 546 million rubles (in accordance with Russian Accounting Standards), revenues – 55.9 billion rubles.