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Don Airlines stake in Aeroflot-Don up for sale again

Price cut substantially (149 words)

Published: 4/23/2001

The Rostov-on-Don Regional Property Fund plans to attempt to auction its 49% holding in Aeroflot- Don on the 18th of May after the failure to attract any buyers for a reported reserve price of $5.6m at the previous auction on the 22nd March 2001. Founded in March 2000, Aeroflot has 51% stake in the airline with Property Fund controlled Don Airlines holding the remaining 49%. The objective of the sale remains paying the debts of bankrupt Don Airlines. The most likely buyer of the stake however, Aeroflot, has reported that it had no plans to increase its stake at the time of the last auction. The price of the deal has fallen in the last few months, with a reserve price of $4.8m being reported for applications to be submitted by the 17th of May 2001.

Article ID: 2503

 

 

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