Aeroflot will not extend tender offer to acquire Transaero stake

The Board of Directors of PJSC Aeroflot has been informed that Transaero shareholders, who previously submitted a tender offer to Aeroflot, have not submitted a proposal for the purchase by Aeroflot of a stake of 75% plus one share in Transaero within the deadline stipulated in the tender offer The Board of Directors also reviewed a progress report on measures undertaken to restructure Transaero during September 2015. While disruptions in the civil aviation market and social tensions among Transaero employees have been avoided, the Board of Directors noted this and decided not to extend the terms of the tender offer