28-Jan-2010 3:19 PM

Aeroflot shareholder, Alexander Lebedev, sell 25.8% stake back to carrier

Aeroflot shareholder, Alexander Lebedev, sold his 25.8% stake, held by his National Reserve Corporation, back to Aeroflot for USD400 million, representing a 20% discount from the current market valuation (Bloomberg/guardian.co.uk/Financial Times, 27-Jan-2010). Mr Lebedev plans to invest proceeds from the sale in “several projects”, including the purchase of new aircraft for Red Wings. Aeroflot is now reportedly considering selling Mr Lebedev’s stake for control of Rosavia and other Russian Technologies' assets. Mr Lebedev has also received approval to sell his 26% stake in Ilyushin Finance to VEB for USD175 million.