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. Last Updated: 07/27/2016

Business in Brief

Aeroflot EGM Set

MOSCOW (MT) — Aeroflot’s directors voted Monday to call an extraordinary shareholders meeting Sept. 6 to elect a new board.

"The board of directors decided that there is no reason to reject the initiative to call an EGM that came from a new shareholder," Anatoly Brylov, secretary of Aeroflot’s board, said Monday.

Brylov said, the offshore company Carroll Trading, which accumulated just over 10 percent of Aeroflot’s shares earlier this year, initiated the vote. The company is said to be connected to tycoon and Chukotka region governor Roman Abramovich.

EBRD Loans $40M

MOSCOW (MT) — The European Bank for Reconstruction and Development said Monday it had lent $40 million to Tolyatti-based Tolyattiazot, the biggest producer of ammonia in the former Soviet Union.

The loan will be used to improve environmental standards, promote energy efficiency and provide working capital.