05.10.2011

The Auction House of the Russian Federation is selling 77,525 sq.m. meters of space at the Moscow Gostiny Dvor

Change of conditions of sale in share packages owned by Moscow in Ilinskoe Podvore and Oktyabr Cinema

The Auction House of the Russian Federation reports changes concerning the sale of share packages in companies which the AHR is realizing by order of the Property Department of the City of Moscow.

I. The auction for the sale of the share package owned by Moscow in Ilinskoe Podvore (49% of charter capital in the company) is postponed from 6 October 2011 to 8 December 2011.

The company owns 17,525.3 sq.m. of non-residential space in the building of the Moscow Gostiny Dvor at the address: Moscow, ul. Varvarka/ per. Khrustalny/Ul. Ilinka/per. Rybnny, d. 3/1/4/2.

“In the course of three-way negotiations, the Moscow property department, the Auction House of the Russian Federation and the owner of the main share package in Ilinskoe Podvore, the company UNTAS Immobilien GmbH (a structure affiliated with the Shatyor Trading House), reached an agreement on the sale of a consolidated share package in Ilinskoe Podvore. Thus, at the December auction the following will be up for sale: a 49% share package owned by Moscow in Ilinskoe Podvore, and a 51% share package owned by UNTAS Immobilien GmbH. Furthermore, an additional 60,000 sq.m. of space at Gostiny Dvor is up for sale, which is also owned by the city of Moscow.

As a result, at the upcoming auctions, the Auction House of the Russian Federation will sell 77,525 sq.m. of space at the Moscow Gostiny Dvor. As the total space is around 80,000 sq.m., one can say that the lion’s share of the complex will be going on sale.

“The sale of the consolidated asset is the most profitable method for realizing property for each owner, from the standpoint of receiving the maximum revenue. For investors, this is also a preferred option, as it means that an individual decision will be taken about the use of the purchased property.” general director of the Auction House of the Russian Federation Andrei Stepanenko).

The auction will take place at the Moscow office of the Auction House of the Russian Federation.

The conditions of the upcoming auction will be announced later.

II. The auction for the sale of a share package owned by Moscow in Oktyabr Cinema (40% of charter capital of the company with a total cost of 796,702,000 rub.), scheduled for 6 October, has been cancelled. According to a decision of the Moscow city property department, privatization of this asset has been postponed to 2013.

Auctions for the sale of a share package in International Trade Center (9.64% of the charter capital of the company with a starting price of 1,445,810,000 rub.) and Novinsky Bulvar 31 (24.99% of the charter capital of the company with a starting price of 1,420,000,000 rub.) will be held on 6 October 2011.