UK Markets closed
  • FTSE 100

    6,695.07
    -20.35 (-0.30%)
     
  • FTSE 250

    20,596.91
    -196.81 (-0.95%)
     
  • AIM

    1,195.31
    -2.78 (-0.23%)
     
  • GBP/EUR

    1.1236
    -0.0045 (-0.40%)
     
  • GBP/USD

    1.3685
    -0.0046 (-0.3339%)
     
  • BTC-GBP

    23,307.10
    +68.34 (+0.29%)
     
  • CMC Crypto 200

    651.44
    +41.45 (+6.79%)
     
  • S&P 500

    3,841.47
    -11.60 (-0.30%)
     
  • DOW

    30,996.98
    -179.03 (-0.57%)
     
  • CRUDE OIL

    51.98
    -1.15 (-2.16%)
     
  • GOLD FUTURES

    1,855.50
    -10.40 (-0.56%)
     
  • NIKKEI 225

    28,631.45
    -125.41 (-0.44%)
     
  • HANG SENG

    29,447.85
    -479.91 (-1.60%)
     
  • DAX

    13,873.97
    -32.70 (-0.24%)
     
  • CAC 40

    5,559.57
    -31.22 (-0.56%)
     

Sistema PJSFC: Sistema agrees to acquire Elektrozavod Group

·2-min read

Sistema PJSFC (SSA)
23-Dec-2020 / 20:00 MSK
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.


Sistema agrees to acquire Elektrozavod Group

23 December 2020, Moscow - Sistema PJSFC ("Sistema" or the "Corporation", together with its subsidiaries and associates, "Sistema Group") (LSE: SSA, MOEX: AFKS), a Russian public diversified holding company, announces that its affiliate LLC Megapolis Invest has entered into agreements to acquire a 64.37% share in JSC Elektrozavod and control over 100% in LLC Elektrokombinat ("Elektrozavod Group") from certain private investors for RUB 24.7bn (with a net cash position) with the goal of creating Russia's leading manufacturer of transformer equipment and implementing a real estate development project on land plots located in Moscow owned by Elektrozavod Group (the "Transaction").

The Transaction is expected to be financed via investments to be provided by Sistema Group (in the total amount of up to RUB 11.0bn) and certain third-party partners. The completion of the Transaction is anticipated by the end of 2020 subject to satisfaction of certain conditions stipulated in the agreements.

Additional co-investors may be brought in at a later stage for both the transformer business and the real estate development project.

Elektrozavod Group includes transformer equipment production facilities in Moscow and Ufa, maintenance divisions, research and design institutes, an engineering centre and land plots totalling 19 hectares near the Elektrozavodskaya metro station in Moscow.

***

For further information, please visit www.sistema.ru or contact:

 

Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, tourism and healthcare services. The company was founded in 1993. Its revenue in 2019 reached RUB 656.9bn; its total assets equalled RUB 1.3tn as of 31 December 2019. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com


Press Service of Sistema PJSFC

Sergey Kopytov

Phone: +7 (495) 228 15 32

kopytov@sistema.ru

IR Service

Nikolai Minashin

Phone: +7 (495) 730 66 00

n.minashin@sistema.ru

Press Service of Sistema PJSFC

Sergey Kopytov

Phone: +7 (495) 228 15 32

kopytov@sistema.ru

IR Service

Nikolai Minashin

Phone: +7 (495) 730 66 00

n.minashin@sistema.ru

ISIN:

US48122U2042

Category Code:

MSCM

TIDM:

SSA

LEI Code:

213800JSZ2UUK4QQK694

Sequence No.:

90290

EQS News ID:

1157300


 

End of Announcement

EQS News Service

show this
show this