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M&A Activity • Oct 18, 2017
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M&A Activity
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MAGNIT PJSC (MGNT)
'Magnit' Group of Companies Submitted to the FAS Russia a Request for Approval for the Transaction to Acquire LLC 'ETK'
18-Oct-2017 / 12:03 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press Release
Krasnodar
October 18, 2017
"Magnit" Group of Companies Submitted to the FAS Russia a Request for Approval for the Transaction to Acquire LLC "ETK"
Krasnodar, Russia (October 18, 2017): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT) announces the following:
"Magnit" Group of Companies and the owners of LLC "ETK" have determined the main parameters of the transaction for "Magnit" Group of Companies to acquire 100% share in the charter capital of LLC "ETK" and have submitted the FAS Russia with the request for approval for the transaction.
LLC "ETK" is the owner of the leasehold rights of selling space in Krasnoyarsk and other towns in the Krasnoyarsk Krai and the Republic of Khakassia, which is currently operated by "Krasniy Yar", a regional retail chain ("Krasniy Yar" and "Baton" stores).
Currently, "Magnit" Group of Companies and the owners of LLC "ETK" are negotiating the terms and conditions of the transaction which can be completed after the approval of the FAS Russia. If the transaction is successfully completed "Magnit" Group of Companies will become the owner of 100% share in the charter capital of LLC "ETK" and receive the opportunity to open not less than 153 stores and 3 hypermarkets with a total selling space of not less than 62,417 sq. m.
This announcement contains inside information disclosed in accordance with the Market Abuse Regulation entered into force on July 3, 2016.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 15101 |
| Media Inquiries | Media Relations Department [email protected] |
Company description:
Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2017, Magnit operated 35 distribution centers and 14,844 stores (11,114 convenience, 430 hypermarkets and 3,300 drogerie stores) in 2,567 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
| ISIN: | US55953Q2021 |
| Category Code: | MSCU |
| TIDM: | MGNT |
| LEI Code: | 2534009KKPTVL99W2Y12 |
| OAM Categories: | 2.2. Inside information |
| Sequence No.: | 4758 |
| End of Announcement | EQS News Service |
620133 18-Oct-2017