CJSC Arial agreed to acquire 66.66% stake in Aerofirst JSC from Joint Stock Company Aeroflot - Russian Airlines (MICEX:AFLT) for RUB 1.2 billion on January 28, 2013. Aeroflot will sell 200 ordinary nominal book-entry shares of Aerofirst. Aerofirst reported $4 million (RUB 119.2 million) for the period January to September 2012. Aerofirst reported operating income of $13.2 (RUB 401.81) million in 2012. The transaction was approved by the Federal Antimonopoly Service of Russia. Olga Revzina, Mark Geday, Artjom Tamaev, Sergei Eremin, Isobel Hoyle, Renat Akhmetshin, Elena Ivanova and Arina Fot of Herbert Smith Freehills CIS LLP acted as a legal advisors for CJSC Arial. The conversions were made through www.oanda.com on January 28, 2013 and December 31, 2012.

CJSC Arial completed the acquisition of 66.66% stake in Aerofirst JSC from Joint Stock Company Aeroflot - Russian Airlines (MICEX:AFLT) on January 29, 2013.