PRESS: Sovcombank can buy 25% in Detsky Mir from Sistema

MOSCOW, Mar 12 (PRIME) -- Sovcombank can buy a 25% stake in children goods retailer Detsky Mir from multi-industry holding Sistema for 20 billion rubles, business daily Kommersant reported on Tuesday, citing several sources and a price estimate by market experts.

A source close to Detsky Mir said that the negotiations are at an early stage.

Georgy Vashchenko, head of the department for operations at the Russian stock market at investment company Freedom Finance, estimated the premium to market price at up to 20%. Detsky Mir closed at 88.36 rubles on March 7.

Gazprombank analyst Marat Ibragimov said that the bank probably wants to avoid an obligatory offer to minority shareholders of Detsky Mir by buying 25% in the retailer but Sistema is interested in selling the entire 52.1% interest.

Sistema and Sovcombank declined to comment.

(66.0763 rubles – U.S. $1)

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