DJ Sistema PJSFC: Sistema agrees to acquire Elektrozavod Group
Sistema PJSFC (SSA)
Sistema PJSFC: Sistema agrees to acquire Elektrozavod Group
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:
Press Service of Sistema PJSFC IR Service
Sergey Kopytov Nikolai Minashin
Phone: +7 (495) 228 15 32 Phone: +7 (495) 730 66 00
kopytov@sistema.ru n.minashin@sistema.ru
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 [1]
ISIN: US48122U2042
Category Code: MSCM
TIDM: SSA
LEI Code: 213800JSZ2UUK4QQK694
Sequence No.: 90290
EQS News ID: 1157300
End of Announcement EQS News Service
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(END) Dow Jones Newswires
December 23, 2020 12:00 ET (17:00 GMT)
