Aeroflot may redeem Millhouse Capital's stake

Aeroflot-Russian Airlines is planning to use Vnestorgbank's $150m credit to redeem its shares from its largest minority shareholder Millhouse Capital that has a 26 percent stake on the airline. As Aeroflot reported, the company is planning to complete this deal before February 14 - the date the shareholder register is closed prior to a general shareholders' meeting that will be held on April 26, 2003.

The report that Aeroflot was attracting a $150m credit was made by Vneshtorgbank's press service. However, as Deputy General Director of Aeroflot-Russian Airlines Lev Koshlyakov said, the negotiations with Vneshtorgbank are still underway, and Aeroflot Executive Board has not made a decision to take a $150m credit from this bank.

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