A group of investors agreed to acquire Russian Sea CJSC from OJSC Russian Sea Group for $52 million.

A group of investors agreed to acquire Russian Sea CJSC from OJSC Russian Sea Group (MICEX:RSEA) for $52 million on December 12, 2012. Proceeds from the deal will be used to reduce the debt. The corresponding decision was approved by the Group Board of Directors.

The deal is expected to be finalized in early 2013. As of February 28, 2013, the deal was approved by Board of Directors of Russian Sea CJSC. The deal will lead to significant improvement in its financial performance and financial stability.