Dixy to buy back shares from Prosperity for 340 rbl/share

MOSCOW, Jan 23 (PRIME) -- An affiliate of Russian retailer Dixy, Dixy Yug, has agreed to buy shares of the parent company from funds managed by Prosperity Capital Management for 340 rubles per security, Dixy said in a statement on Tuesday.

“According to the agreement the price of the repurchase of shares would amount to 340 Russian rubles for one ordinary share. The transaction between Dixy Yug and Prosperity Capital Management provides for the repurchase of no less than 20% of shares of the Dixy Group and would be completed in several stages during the first half of 2018,” the company said.

Dixy Yug and its units have consolidated a more than 75% stake in Dixy Group, which is why Dixy Yug will send an obligatory buyout offer to the shareholders of Dixy Group. The price of the offer is 340 rubles per security.

(56.6261 rubles – U.S. $1)

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