Source Pravda.Ru

NRB buys over 26 percent in Aeroflot

The NRB group and Millhouse Capital completed a deal of selling over 26 percent of the shares of Aeroflot Russian Airlines, NRB's public relations department reported. The purchaser's consultant was Troika Dialog. The sum of the deal was not posted.

In the opinion of NRB's representatives, the deal will contribute to a dynamic development of Aeroflot and accelerated the reforms and restoration of Russian aircraft construction, as well as to more efficient interaction among shareholders for the benefit of the company, an increase in its competitiveness and transparency, the decline of costs and growth of profitability.

Additionally, NRB is hoping for the development of collaboration between Russian aircraft producers and airline carriers.

Chairman of the Millhouse Capital's Board of Directors Yevgeny Shvidler pointed out that the company "considers the work, done by private investors in Aeroflot, very important". According to him, Millhouse's strategy is aimed at acquiring undervalued assets and considerably increasing their value by pursuing a clear corporate policy. "High interest in the stake in Aeroflot and the sum of the deal are the result of this work," Shvidler pointed out.

© &to=http://www.rbc.com' target=_blank>RBC

&to=http://www.nrb.org' target=_blank>NRB

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