Legal claims related to Transaero’s shares prevented acquisition deal — S7 co-owner

Outstanding legal claims of third parties in respect of Russian Transaero airline’s shares prevented the Russian businessman and co-owner of S7 airline Vladislav Filev from buying the controlling stake and resulted in his exit from the deal, his spouse and co-owner of S7 Natalia Fileva and the shareholder’s representative told TASS on Monday. S7 airline co-owner Vladislav Filev announced earlier the desire to purchase the controlling stake in Transaero from its shareholder and promised to rescue the air carrier and settle debts to lenders and leasing companies. However, a substantial portion of shares is pledged with lending banks. "Transaero’s shareholders have no unencumbered shares amounting to the controlling stake and also there are outstanding legal claims of third parties in respect of shares. That is why the deal will not take place," Filev’s representative said. "We are pulling out of the deal," Fileva said. Total debt of Transaero is about 250 bln rubles ($3.9 bln). A number of lending banks announced their intention to file bankruptcy suits to courts. The commercial operator’s certificate of the airline is canceled from October 26.