Sistema PJSFC: Sistema completes merger of OBL Pharm and Binnopharm

Sistema PJSFC (SSA) 
Sistema PJSFC: Sistema completes merger of OBL Pharm and Binnopharm 
 
14-Oct-2019 / 09:45 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 completes merger of OBL Pharm and Binnopharm 
 
Moscow, 14 October 2019. - Sistema PJSFC ("Sistema") (LSE: SSA, MOEX: AFKS), 
        a publicly traded diversified Russian holding company, announces the 
        completion of the merger of pharmaceutical assets JSC Pharmaceutical 
  Enterprise Obolenskoe ("OBL Pharm") and JSC Binnopharm ("Binnopharm"). The 
             merged company will operate under the brand Alium. 
 
  As a result of Sistema's participation in an additional issue of OBL Pharm 
    shares, Sistema's effective stake in the company increased from 12.8% to 
   26.3%. VTB Bank's effective stake in OBL Pharm now stands at 38.5%, while 
  the total stake owned by the consortium of investors including the Russian 
    Direct Investment Fund ("RDIF"), the Russia-China Investment Fund (RCIF, 
     which was created by RDIF and China Investment Corporation) and leading 
Middle Eastern funds is 23.0%. Sistema paid for its additional shares of OBL 
             Pharm using the 88.7% of Binnopharm shares that it owned.[1] 
 
      The merger of OBL Pharm and Binnopharm created pharmaceuticals holding 
  Alium, one of Russia's largest pharma companies in the commercial segment. 
         Alium's total production area exceeds 70,000 sq m and includes four 
         high-tech facilities in Moscow and the Moscow region. The company's 
 diversified product portfolio comprises approximately 200 drugs used across 
       therapeutic areas including respiratory, nervous and gastrointestinal 
  systems, cardiology, infectious diseases and colds as well as pain relief. 
 
      *** 
 
      Sistema PJSFC is a publicly-traded diversified Russian holding company 
    serving over 150 million customers in the sectors of telecommunications, 
           high technology, financial services, retail, paper and packaging, 
     agriculture, real estate, tourism and medical services. The company was 
founded in 1993. Revenue in 2018 was RUB 777.4 bn; total assets equalled RUB 
    1.5 trn as of 31 December 2018. 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 [1] 
 
                              *** 
 
   For further information, please visit www.sistema.com [1] or 
                                                       contact: 
 
Investor Relations      Public Relations 
Nikolai Minashin        Sergey Kopytov 
Tel: [phone] Tel.: [phone] 
[e-mail]   [e-mail] 
 
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[1] As part of the process of merging OBL Pharm and Binnopharm, Sistema 
increased its stake in Binnopharm to 88.7% by acquiring 14.7% of the company 
from minority shareholders. 
 
ISIN:          US48122U2042 
Category Code: MSCM 
TIDM:          SSA 
LEI Code:      213800JSZ2UUK4QQK694 
Sequence No.:  23264 
EQS News ID:   889435 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=8dbdb321a88e3508530119f5e3de64d2&application_id=889435&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

October 14, 2019 02:45 ET (06:45 GMT)