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: +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 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)