Acquisition of the Shares of ABC Supermarkets AS
Today, on April 27th 2020, Selver AS a subsidiary of Tallinna Kaubamaja Grupp AS, has entered into an agreement to acquire 100% of the shares of ABC Supermarkets AS. The transaction shall be completed after obtaining the necessary permissions from the Competition Authority and performing other additional procedures. The nominal value of the shares of ABC Supermarkets AS is 984,239 euros (it consists of 984,239 shares with the nominal value of 1 euro).
The strategic aim of Tallinna Kaubamaja Grupp AS has been to expand and grow within the field of supermarkets, which has consistently been one of the most important business segments of the group. Selver AS, a subsidiary of Tallinna Kaubamaja Grupp AS, is an Estonian based chain of super- and hypermarkets, selling mainly groceries and basic consumer goods. The chain of Selver supermarkets was established in 1995 and as of today the chain consists of 53 shops, out of which 22 are located in different regions of Tallinn, and an online store E-Selver with the largest service area in Estonia. The transaction shall add 16 Comarket shops in Harju, Pärnu and Tartu County, 2 Delice shops in Viimsi and the city of Pärnu and a Solaris shop in Tallinn to the Selver chain. The abovementioned shops of ABC Supermarkets AS will initially proceed to operate under their existing name and brand as 100% subsidiaries of Selver AS. Acquiring the shares of ABC Supermarkets AS shall give us unique opportunity to meet our clients´ expectations by offering more convenient and quicker purchases in new locations where we are not yet present.
ABC Grupi AS as the sole shareholder of ABC Supermarkets AS is one of the largest Estonian capital based group of companies, which is engaged in three main areas of activity – retail sale of food and consumer goods, sale and maintenance of cars and wholesale of food and consumer goods. The transaction does not conclude other companies of ABC Grupi AS besides ABC Supermarkets AS.
The transaction is not considered as a significant acquisition of shares nor a transaction with persons connected to the issuer within the meaning of the section “Issuer Requirements” of the rules and regulations of NASDAQ Tallinn Stock Exchange and does not have a significant impact on the operations of Tallinna Kaubamaja Grupp AS. The members of the supervisory board and management board of Tallinna Kaubamaja Grupp AS are not personally or in other way interested in the transaction.
Raul Puusepp
Chairman of the Management Board
Tel 731 5000
