Safmar will put up for sale to foreign investors to 24.66% M. Video

MOSCOW, July 26. /TASS/. Group Safmar intends to sell to foreign investors to 24.66% in the trading network “M. Video”, said the message of the retailer.

“M. Video” has been communicated to him by shareholder Lagranolia Holdings Limited owned by the group Safmar, – of its intention to sell approximately to 44.33 million shares of common stock of the company (“M. Video” – approx. ed.), which corresponds approximately to 24.66% of the share capital of the company. Shares would be offered through an accelerated book building applications for the acquisition of the international institutional investors outside of the United States…in the US among qualified institutional investors under a private proposal are exempt from or not subject to registration in accordance with the requirements of the securities act”, – stated in the message.

Earlier, a group of Safmar announced that it buy out minority shareholders “M. Video” more than 44 million shares of the company, which amounts to 24.66% of the share capital, for RUB 17.7 billion At present Safmar belongs of 82.34%.

After the sale of the shares to foreign investors have Safmar will remain around 57,68% stake in the retailer. The “Safmar” shall “subject to certain exceptions,” not to sell further shares of “M. Video” within 90 days after the announced sale of 24.66%.

Bookrunner is VTB Capital. The sales price of the shares will be determined upon completion of the construction of the order book.