8-Jul-2011 11:18 AM

A1 Investment Co seeking to sell 51% stake in Avianova: reports

Alf Group's investment arm A1 Investment Company reportedly decided to sell its 51% stake in Avianova in late 2010, according to former MD of the investment group, Dmitry Chernyak (Vedomosti/Moscow Times/Moscow News, 07-Jul-2011). The LCC has reportedly been up for sale for several months, and has reportedly been offered to Aeroflot. Aeroflot, however, decided not to acquire the stake. A1 is reportedly seeking USD70 million for the Avianova stake.