Perspektiva LLC, a subsidiary of the Sheremetyevo Airport, has won the auction for the acquisition of the Domodedovo Airport, bidding 66 billion rubles or $877 million for the asset, according to a statement from PSB Bank (the auction organizer and seller).

"PSB and RTS-Tender announce the sale of Domodedovo Airport. Following a review of bids submitted as part of the public offering, Perspektiva LLC was declared the winner, offering a price of 66,132,908,002.5 rubles," the statement says.

In total, five bids were submitted for the auction, but only two participants were admitted.

The contract with the buyer will be signed within five business days. In accordance with the law and the auction regulations, the transfer of property and registration of ownership are to be completed within 30 calendar days after the date of payment for the property.

The sale was conducted as a public offering, using a Dutch auction with descending prices. The starting price was set at approximately 132.3 billion rubles ($1.7 bln), with a descending increment of approximately 13.2 billion rubles ($174 mln).

"The sale of Domodedovo Airport is a landmark transaction for the entire Russian aviation market, and an important step in implementing PSB's new objective of selling federal property. The accelerated privatization mechanism allows for flexible responses to the challenges of today's global agenda, and now, following the auction organized by PSB, one of the largest logistics hubs and a strategically important infrastructure facility will be transferred to a specialized transport organization," PSB commented.