PRESS: Kerimov wants to acquire Sistema’s stake in Detsky Mir

MOSCOW, Sep 5 (PRIME) -- Companies of Suleiman Kerimov can acquire a controlling stake in children goods retailer Detsky Mir from multi-industry holding Sistema, business daily Kommersant reported on Wednesday citing a source.

Sistema owns 52.1% in the retailer and the Russia-China Investment Fund (RCIF) holds 14.03%, the rest is free float.

Kerimov started to consider the purchase a year ago but the process was suspended by his arrest in France in November 2017 on suspicions of tax evasion. The accusations were removed in June 2018, and negotiations resumed.

Sistema’s stake in Detsky Mir was frozen during litigations with oil company Rosneft. In July, the stake was unfreezed.

Marat Ibragimov, senior analyst of Gazprombank, valued the stake at 45.81 billion rubles. The RCIF might want to sell the stake as well, and it would cost 12.33 billion rubles.

(68.2737 rubles – U.S. $1)

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