Sistema PJSFC: Joint venture of Sistema and Sber acquires Elektrozavod Group

DJ Sistema PJSFC: Joint venture of Sistema and Sber acquires Elektrozavod Group

Sistema PJSFC (SSA) 
Sistema PJSFC: Joint venture of Sistema and Sber acquires Elektrozavod Group 
 
28-Dec-2020 / 22:00 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. 
 
       Joint venture of Sistema and Sber acquires Elektrozavod Group 
 
  28 December 2020, Moscow - Sistema PJSFC ("Sistema", the "Corporation" or, 
together with its subsidiaries and affiliates, the "Group") (LSE: SSA, MOEX: 
     AFKS), a Russian public diversified holding company, announces that LLC 
Megapolis Invest (the "Purchaser"), a joint venture between Sistema (75.86%) 
        and LLC Sberbank Investments ("SberInvest") (24.14%), has closed the 
 transaction whereby it acquired a 64.37% stake in JSC Elektrozavod and 100% 
in LLC Elektrokombinat ("Elektrozavod Group") from certain private investors 
  ("the Transaction"). The Transaction was valued at RUB 24.7bn. The goal of 
   the Transaction is to create Russia's leading manufacturer of transformer 
     equipment and implement a real estate development project on land plots 
                         located in Moscow owned by Elektrozavod Group. 
 
    Sistema and SberInvest provided equity financing to the Purchaser in the 
  amount of RUB 11.0bn and RUB 3.5bn, respectively. Additionally, SberInvest 
  provided the Purchaser with debt financing of RUB 10.2bn. The parties also 
 concluded an agreement granting Sistema the right to acquire and SberInvest 
       the right to sell to the Group its stake in the equity capital of the 
   Purchaser. Additional co-investors may be brought in at a later stage for 
    both the transformer business and the real estate development project of 
                         Elektrozavod Group. 
 
  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: 
 
Public Relations                 Investor Relations 
 
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 symbol "SSA" on the London Stock Exchange. Sistema's ordinary 
     shares are listed under the "AFKS" ticker on the Moscow Stock Exchange. 
                         Website: www.sistema.com [1]. 
 
 _SberInvest (Sberbank Investments LLC) is a wholly owned subsidiary of PJSC 
 Sberbank and part of its Corporate and Investment Unit. Its core operations 
    include financial solutions and structuring through equity and mezzanine 
                      instruments, which it offers to the bank's customers._ 
 
ISIN:          US48122U2042 
Category Code: MSCM 
TIDM:          SSA 
LEI Code:      213800JSZ2UUK4QQK694 
Sequence No.:  90461 
EQS News ID:   1157663 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f1efd490ef237092d4033512d119fe99&application_id=1157663&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

December 28, 2020 14:00 ET (19:00 GMT)