24th Nov 2015 14:04
LONDON (Alliance News) - Russia-focused investment company Aurora Russia Ltd on Tuesday said it remains confident it will be able to sell its remaining investment, though no deal has been struck yet.
The company still owns a minority stake in OJSC Unistream Bank and has been attempting to sell the holding, but its efforts have been hampered by the weakness of its position as a minority shareholder and a lack of appetite for Russian assets.
In a statement ahead of its annual general meeting next month, the company said it remains confident it will sell the stake and is now reviewing a direct sale of the stake along with other options to realise the value.
Shares in the company were untraded on Tuesday, having last traded at 9.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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