HeadHunter Group PLC (NasdaqGS:HHR) entered into a sale and purchase agreement to acquire LLC Zarplata.ru from Hearst Shkulev Media OOO for RUB 3.5 billion on November 24, 2020. The consideration shall be paid in cash subject to customary price adjustments at closing as well as limited post-closing escrow arrangements. The Acquisition will be financed with a new debt facility the terms and source of which remain undetermined. HeadHunter has various sources of financing for the Acquisition available to it, including open debt facilities at VTB Bank and the ability to access the Russian domestic debt capital markets by issuing ruble bonds via the RUB 20 billion indefinite exchange bond program that HeadHunter established on MOEX in October 2020. As of December 14, 2020, Headhunter LLC completed the offering of bonds of series 001P-01R proceeds of which will be used to finance the acquisition of Zarplata.ru and for other corporate goals. Zarplata will operate separately from HeadHunter and will remain accessible at its existing web address, www.zarplata.ru. It is currently anticipated that the Zarplata management team will remain in place and will continue to be involved in further operations. In 2019, Zarplata generated total revenue of RUB 854 million. The transaction was approved by The Federal Antimonopoly Service of Russia and is subjected to customary closing conditions. The transaction is expected to complete by the end of January 2021.