The German company Gebr. Heinemann has exited the capital of two Cypriot companies - Jullianita Limited and Rubis Holdings Limited, which own the operators of duty-free shops at the Russian airports Domodedovo and Sheremetyevo, reported RBC citing extracts from the commercial register of Cyprus.
The share of the German company was received by Azerbaijani businessman Araz Mehdiyev, former co-owner of the Kyiv Ploshchad group. The entrepreneur became a shareholder in the companies back in 2021, when he received 25% in Jullianita Limited and Rubis Holdings Limited. Both deals were to be completed by the end of 2024, but were not announced earlier.
One of the world's largest distributors and operators of duty-free retail stores, Gebr. Heinemann, has been operating in Russia since 2007. Initially, the company developed its business at Domodedovo Airport and is represented by Travel Retail Domodedovo LLC, founded by the Cypriot company Rubis Holdings Limited. Since 2009, Gebr. Heinemann began to develop duty-free goods at Sheremetyevo. In 2013, the joint venture Gebr. Heinemann and Sheremetyevo Airport (JSC "MASH") - JSC "Imperial Duty Free".
In the spring of 2024, the German Gebr. Heinemann ceased to be a shareholder in Rubis Holdings Limited. Then, in April 2024, Gebr. Heinemann withdrew from the capital of another company registered in Cyprus, Jullianita Limited, where it also owned 50%. This company is a co-owner of JSC "Imperial Duty Free", one of the largest duty-free operators at Sheremetyevo at the moment.
The press service of Sheremetyevo Airport explained to the publication that currently JSC "MASH" owns 58.4% of the duty-free operator, while Jullianita Limited still holds 41.6%.