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VTB Group announces sale of its stake in Magnit

JSC VTB Bank (VTBR)







VTB Group announces sale of its stake in Magnit

19-Nov-2021 / 07:51 CET/CEST



Dissemination of a Regulatory Announcement, transmitted by EQS Group.


The issuer is solely responsible for the content of this announcement.




NEITHER THIS ANNOUNCEMENT NOR THE INFORMATION CONTAINED HEREIN IS FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR TO ANY PERSON IN ANY OF THOSE JURISDICTIONS OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION.



VTB Group announces sale of its stake in Magnit



VTB Group announces the sale of approximately 17.28% of ordinary shares of PJSC "Magnit" ("Magnit" or the "Company"). Approximately 4.9% has been offered through an accelerated bookbuilding process (the "Offering"). The Offering price was set at RUB 5,700 per share. The remaining approximately 12.4% of the Company's shares will be sold to Marathon Group at the price determined in the Offering (the "Private Sale" and together with the Offering, the "Transaction").

Details of the Transaction:



The Offering consists of the sale of approximately 4.9% of shares of PJSC "Magnit"




Selling shareholder is LLC "VTB Infrastructure Investments", a wholly-owned subsidiary of VTB Bank (PJSC)




The Offering price was set at RUB 5,700 per share




Remaining approximately 12.4% of the Company's shares will be sold to Marathon Group at RUB 5,700 per share. As a result of the Transaction, VTB Group will fully divest its stake in PJSC "Magnit", while Marathon Group will increase its stake in the Company to approximately 29.2%, becoming the largest shareholder of Magnit. The Transaction structure contemplates that voting rights with respect to approximately 4.2% of PJSC "Magnit" shares currently pledged under a repurchase agreement will be transferred to Marathon Group following the receipt of the requisite approval from the Federal Antimonopoly Service. Marathon Group intends to apply for such approval following the Transaction. Until then, Marathon Group will hold voting rights with respect to 25% of PJSC "Magnit" share capital




VTB Capital acted as a sole global coordinator and bookrunner of the Offering and as a financial adviser with respect to the Private Sale


 
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