MOSCOW TIME: 19.04.2024 22:03:12
Qatar Airways will initiate the process of formalizing the acquisition of a 25% stake in Moscow’s Vnukovo Airport once it wraps up due diligence.
The memorandum of understanding for the acquisition of the stake is set to be signed after due diligence is completed.
"No, we haven’t signed the memorandum of understanding because we are still in the process of due diligence. Once the due diligence is completed, we will then sign the MOU and then begin the purchasing process," Chief Executive Officer of the airline Akbar Al Baker said.
E&Y is handling the due diligence on Vnukovo’s assets for the Qatari air carrier, the top manager said. Qatar Airways will send the documents required for the completion of the deal to the Russian antimonopoly regulator after the procedure to evaluate the airport assets, Al Baker said.
"It is taking longer than we thought… but our interest is still there," he noted.
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