Acquisition of OSG Records Management

22 February 2013  Aurora Russia Limited (the “Company” or “Aurora Russia”) and Elbrus Capital announce that they have entered into a sale and purchase agreement relating to the acquisition of OSG Records Management (“OSG”) by the private equity fund advised by Elbrus Capital.  

OSG is the leading document storage and records management company operating in Russia, Poland, Kazakhstan, Ukraine and some other Eastern European countries.

It is intended that the transaction will close in early March 2013.

Commenting on the disposal, Geoff Miller, Chairman of Aurora Russia, said:

“The successful sale of our stake in OSG is an indication of the value in our portfolio companies and investor interest in high quality CIS companies. The Board continues to examine multiple options for exits from our remaining portfolio companies, to achieve maximum value for our shareholders.”

Alexander Savin, Managing Partner of Elbrus Capital, commented on the deal:

"We are delighted to partner with OSG Records Management, the leader of the document storage and records management market in Russia and the CIS. The company is poised to capitalize on the economic growth in Russia and a broad trend toward outsourcing of non-core business functions. We look forward to supporting the management team in executing its growth strategy".

About Aurora Russia

Aurora Russia Limited is the AIM-quoted investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia.

About Elbrus Capital

Elbrus Capital is a leading private equity business in Russia and the CIS. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed $600 million. Key investors in the funds are large international institutional investors and international development institutions.



Enquiries:    
    
Aurora Russia Limited     
Geoff Miller    +44 (0) 7408 830719
    
Elbrus Capital
Ilya Novokhatsky, DNA Communications, +7 925 518 1798, e-mail: ilya@dnapr.ru

Numis Securities Limited     
+7 925 518 17 98
Nominated Adviser: Hugh Jonathan    +44 (0)20 7260 1000
Corporate Broking: Rupert Krefting / Nathan Brown     
    
FTI Consulting    
Ed Gascoigne-Pees    +44 (0) 20 7269 7132
Jack Hickey    

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