KO71 Sistema PJSFC Sponsored GDR RegS

Sistema PJSFC: Sistema to sell 49% of Leader Invest to Etalon Group

Sistema PJSFC (SSA)
Sistema PJSFC: Sistema to sell 49% of Leader Invest to Etalon Group

12-Aug-2019 / 09:45 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.

 Sistema to sell 49% of Leader Invest to Etalon Group

Moscow, 12 August 2019 - Sistema PJSFC ("Sistema") (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that it has signed a legally binding agreement to divest a 49% equity stake in Leader Invest, a leading Moscow real estate developer, to ETALON GROUP PLC ("Etalon Group"), one of Russia's largest development and construction companies, for RUB 14.6 billion. As a result of the transaction, Etalon Group will consolidate 100% ownership of Leader Invest.

The transaction will allow Etalon Group to streamline the ownership structure of its development assets and accelerate the integration of the two businesses with the aim of creating one of the leaders in the Moscow and St Petersburg real estate markets. Sistema remains the largest shareholder of Etalon Group, with a 25% equity stake.

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Sistema is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2018 was RUB 777.4 bn; total assets equalled RUB 1.5 trn as of 31 December 2018. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website:

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For further information, please visit or contact:

 

 

Investor Relations

Nikolai Minashin

Tel: +7 (495) 730 66 00

Public Relations

Sergey Kopytov

Tel.: +7 (495) 228 15 32

 

 

 

 
ISIN: US48122U2042
Category Code: MSCM
TIDM: SSA
LEI Code: 213800JSZ2UUK4QQK694
Sequence No.: 16442
EQS News ID: 855581

 
End of Announcement EQS News Service

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EN
12/08/2019

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