Moscow. September 5. INTERFAX.RU – the structure of Senator Suleiman Kerimov, who yet was not of interest in the Russian retail market, can buy a controlling stake in the network “Children’s world” at AFK “System” Vladimir Yevtushenkov, the newspaper “Kommersant” citing its sources.
The negotiations intensified after the withdrawal of the charges Karimova on suspicion of tax evasion in France.
AFK “System” owns 52.1% of the retail network. Even 14,03% Russian-Chinese investment Fund (RCIF), created by the Russian direct investment Fund (RDIF) and China Investment Corporation. The remaining securities are in free float.
According to the source “Kommersant” in investment circles, Kerimov began to study the possibility of buying group package the “Children’s world” about a year ago. But after the arrest of the Senator in the airport in nice in November 2017 on suspicion in evasion from payment of taxes process stopped. In December 2017 the “System” wanted to spend the accelerated SPO, investors to sell a 5% stake for RUB 3.3 bn, based on the price of 90 rubles per share, but the deal fell through. On the day of closing of the order book, 12 December, the Arbitration court of Bashkortostan in the framework of interim measures under the claim “Rosneft” to 131.6 billion rubles arrested assets of the “System,” including the package in the “Children’s world”. At the end of the year, AFC has signed with Rosneft a settlement agreement, agreeing to pay the oil companies RUB 100 billion Package of the Corporation in the “Children’s world” was pledged on the loan to Gazprombank and the Russian direct investment FUND worth 40 billion rubles, taken for the enforcement of these obligations.
In March 2018 the “System” planned to carry out another attempt SPO “Children’s world”, offering investors a 25% stake, but then rejected the idea. At the end of June, the French authorities withdrew charges against Kerimov. After that negotiations with “the System” about buying a “Children’s world” has intensified, according to the source Newspapers. In July, the AFC announced the early repayment of the loan to Gazprombank and the Russian direct investment FUND, which allowed to withdraw the Deposit shares of the “System” in the “Children’s world” and made possible the sale of the package.
In August Yevtushenkov said that controlling stake in retailer there are seven applicants. In the “System” said they would not comment on the details of the negotiations for the sale of assets. The representative of the family of the victim claims that there are not negotiations.
Shares “Children’s world” on the “Moscow stock exchange” on September 4 closed at 90,45 RUB over the paper, the capitalization decreased by 0.5% to 66.84 billion rubles Gazprombank Senior analyst Marat Ibragimov believes that the “System” will ask a premium for the package in the “Children’s world”. He estimated that the deal could pass through the reference point 119 RUB. per share (weighted average price of shares of the retailer, calculated on the basis of the consensus forecast of analysts). Thus, the whole package “System” transaction can cost 45.81 billion RUB.
Detsky Mir is the largest retailer of children’s products in the country. On June 30, 2018, the network operated 599 stores in Russia and Kazakhstan. In January-June 2018 its revenue increased by 14.3%, to 48.1 billion rubles, EBITDA was 38.2%, to 4.1 billion rubles., net profit – by 2.7 times to 1.9 billion rubles year-on-year
Kerimov is a 20-th place ranking in Forbes with a fortune of $6.4 billion.
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