Sistema PJSFC: Sistema agrees to acquire Elektrozavod Group

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: [phone]      Phone: [phone] 
 
[e-mail]                 [e-mail] 
 
      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 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f1efd490ef237092d4033512d119fe99&application_id=1157300&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

December 23, 2020 12:00 ET (17:00 GMT)