俄罗斯航空公司丢掉第一大股东

Release Date: 2010-01-27

Source: Kommersant

According to Aeroflot's message, Board of Directors of Aeroflot approved the redemption of a 25.8% share held by Alexander Lebedev from the National Reserve Corporation (NRC) for USD 400 mln on January 26. As an option, Aeroflot can trade the shares for aviation assets of Russian Technologies that were to enter Rosavia

The share will be redempted by an SPV company, Aeroflot-finans. Reliable sources of Kommersant claim that the deal is worht USD 400 mln which is almost 20% less than yesterday's MICEX price of the share (USD 492 mln).

As Alexander Lebedev added, the deal is directly related to the redemption of his share in Ilyushin Finance Co. for 5 bln rubles (USD 166 mln). He explained that one of the conditions of the deal was to reinvest the assets in Red Wings (an airline), in the National Land Company (one of the major potato producers in Russia) and in the National Housing Corporation (construction of low-storey housing).

Experts believe that Aeroflot will benefit from the redemption even if the deal with Russian Technologies does not work out.

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