October 29, 2014, 02:17 / Business

Aeroexpress CEO Alexey Krivoruchko bought a 4.16% stake in the company

In the history of transport companies, there are few cases when their top managers bought shares in the companies they manage, and usually this happens as part of option programs, says Raiffeisenbank analyst Konstantin Yuminov. For example, Globaltrans CEO Sergei Maltsev owns 4.5% of the railway operator; Aeroflot and Transcontainer have option programs.

Aeroexpress CEO Alexey Krivoruchko became a co-owner of the company - he bought 4.16% of shares from Delta-trans-invest (owned on a parity basis by Transgroup Invest and Worldwide Invest, the beneficiary of the latter is Tatyana Liksutova), the report says Aeroexpress. And Delta-trans-invest reduced its share from 50 to 45.8%. The deal was closed on October 24. Its amount is not disclosed.

Last year, Delta-trans-invest bought 25% of Aeroexpress from Russian Railways for 555 million rubles. Thus, Krivoruchko could pay 92.3 million rubles for a stake in the company. Other shareholders of Aeroexpress are Iskander Makhmudov (17.5%) and Andrey Bokarev (7.5%).

Krivoruchko has been working as the general director of Aeroexpress since 2010. At the beginning of the year, he was appointed general director of the Kalashnikov concern. In May, Krivoruchko and Bokarev closed a deal to purchase a 49% stake in Kalashnikov, paying 1.3 billion rubles for the package. “Krivoruchko will step away from the operational management” of Aeroexpress, but will remain on the board of directors of this company, Kalashnikov reported then. Krivoruchko will continue to be involved in the company’s strategy; operational management is already handled by Aeroexpress executive director Alexey Sorokin, says an Aeroexpress representative. At the same time, in the summer, Krivoruchko’s powers as CEO of Aeroexpress were extended for three years. It was impossible to get comments from a Kalashnikov representative yesterday.

Aeroexpress provides intermodal transportation to the airports of Moscow, Sochi, Vladivostok and Kazan. Having become a shareholder of the carrier, Krivoruchko can count on dividends - 25% of the company’s net profit. At the end of 2013, the company must pay 158.7 million rubles. in the form of dividends (43% more than at the end of 2012). The net profit of Aeroexpress increased by 43% in 2013 to 634 million rubles, revenue by 20% to 5.2 billion rubles, according to the company’s materials.