Magnit Group of Companies Submitted to the FAS Russia a Request for Approval for the Transaction to Acquire LLC 'ETK'

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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: [e-mail] 
 
                    Office: [phone] x 17600 
 
Dina Svishcheva Deputy Director, Investor Relations 
 
                          Email: [e-mail] 
 
                    Office: [phone] x 15101 
 
Media Inquiries          Media Relations Department 
 
                                    [e-mail] 
 
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 
 
 

(END) Dow Jones Newswires

October 18, 2017 06:03 ET (10:03 GMT)