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VNV Global — M&A Activity 2012
Nov 1, 2012
3125_rns_2012-11-01_008795cf-c330-45aa-80bb-4473aa18e41a.pdf
M&A Activity
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Press Release November 1, 2012
Vostok Nafta Investment Ltd ("Vostok Nafta") announces material portfolio transaction
One of Vostok Nafta's principal holdings, Tinkoff Credit Systems ("TCS Bank") has today announced the conclusion of a transaction whereby Horizon Capital has invested a total of USD 40 million in TCS Bank. The transaction, which is a secondary transaction with certain current shareholders, including Vostok Nafta, values TCS Bank at USD 1 billion, which will result in a significant positive revaluation of Vostok Nafta's remaining holding in TCS Bank. All told, Vostok Nafta's Net Asset Value is expected to increase by some 23 percent as a result of the transaction.
Following completion of the transaction, and assuming the remaining shareholdings remain constant since the last published Net Asset Value as per September 30, 2012, Vostok Nafta's largest shareholdings would be as follows:
| 1. Tinkoff Credit Systems | 42.4% |
|---|---|
| 2. Black Earth Farming | 18.4% |
| 3. Avito | 16.1% |
Vostok Nafta will publish a new Net Asset Value revaluing all holdings as per October 31, 2012 on November 2, 2012.
This press release has not been reviewed by Vostok Nafta's auditors.
For further information please contact: Robert Eriksson, Head of Investor Relations, Tel +46 8 545 015 50
www.vostoknafta.com
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