PRESS: Creditor may get control over online retailer Ulmart

MOSCOW, Nov 15 (PRIME) -- The conflict between the shareholders of Russian online retailer Ulmart may be finished by transferring the company to its creditor, the owner of Peterburg Oil Terminal, Mikhail Skigin, Kommersant business daily reported on Friday citing the retailer’s presentation for investors.

The scheme envisages that two shareholders of Ulmart Holding Ltd, Ulmart’s parent, Dmitry Kostygin and August Meyer, who jointly control 61.5% of the company, will buy the 38.5% share of the third partner, Mikhail Vasinkenich, and then leave the company so that its “new management team could develop the project with a clean slate.” 100% of Ulmart will be transferred to Skigin.

Ulmart denied to confirm or refute the information.

“Negotiations with different potential investors are underway, we are not ready to name them,” a spokesperson for the company said. Vasinkenich and a representative of Kostygin have not answered the newspaper’s questions. Skigin’s lawyer Kliment Rusakovsky said that there is no clear agreement.

Kommersant also said that Ulmart will need external investment of 9 billion rubles, including 4 billion rubles for the charter capital, 3 billion rubles for the “organic growth” and 2 billion rubles for marketing and advertising.

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