OREANDA-NEWS. February 14, 2014. In accordance with a directive from the Government of the Russian Federation, the Board of Directors of Russian Railways has passed a resolution to reduce the Company's stake in Aeroexpress LLC from 50% to 25 % of the share capital.

The transaction will be realised by selling 25% of the stake which Russian Railways holds in Aeroexpress to Delta-Trans-Invest LLC.

The transaction price has been set based on the market value as calculated by an independent appraiser.

By a resolution of the Board of Directors, Russian Railways acquired a 50% stake in Aeroexpress in 2008 to provide integrated transport services to passengers using Sheremetyevo international airport.

When deciding to purchase the stake, it was noted that, in the event that the plans to develop Aeroexpress LLC were successfully implemented and, as a result, the value of the business were to increase, Russian Railways could decide to sell its stake in the company in order to obtain investment income.

Russian Railways is interested in the development of Aeroexpress as a modern carrier and the realisation of the growth potential in the value of its investments in the company's capital, but due to significant underfunding of its own railway infrastructure, it does not have the financial resources to invest in the project, including through the provision of debt financing.

Aeroexpress currently provides express passenger transportation on routes from Moscow to the airports in the Moscow Aviation Hub (Vnukovo, Sheremetyevo, Domodedovo) and Savyolovsky Station - Lobnya Station, as well as in the cities of Kazan and Vladivostok (with a rail-air link between the station and the airport).

Aeroexpress also acts as an agent for Russian Railways, providing ticket sales services and passenger services on the rail-air link in Sochi and leasing out space at Sheremetyevo's rail terminal.