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Severgroup completed a deal with Lenta’s main shareholders

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Severgroup completed a deal with Lenta’s main shareholders
April 30
09:00 2019

TPG and EBRD companies, the main Lenta’s shareholders, have completed the transaction with the company Severgroup. The buyout of the remaining shares occurred through the offer.

Severgroup has announced that the draft proposal will be available today.

The arrangements on the acquisition of shares from major holders were formed on April 1. The parties made an agreement on obligations.

The FAS gave the permission for the deal last week. This was stated separately by the parties.

Lenta is the largest hypermarket net in the country and occupies a leading position in terms of revenue. As of the end of last month, it included 375 stores, 2⁄3 of which were hypermarkets.

Among the minority shareholders there were those who considered that Severgroup had proposed a very low price. “Prosperity”, which owns 7% of  Lenta, is among them. If we take into account the offer price, the net of hypermarket is estimated at $ 1.75 billion.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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