Russia’s Destky Mir says unhurt by arrest of Sistema’s assets

MOSCOW, Dec 14 (PRIME) -- The arrest of assets of multi-industry holding Sistema has no impact on operating activity of Russia’s largest children goods retailer Detsky Mir and dividends of other shareholders, the company said in a statement on Thursday.

“Detsky Mir informs that the company operates in the usual mode. The events do not affect Detsky Mir’s operational activities and do not impose restrictions on operations with shares of Detsky Mir that are owned by the other shareholders, as well as their rights to receive dividends,” the company said.

On Wednesday, the Arbitration Court of the republic of Bashkortostan arrested assets of Sistema worth 98.7 billion rubles, including its 52.09% interest in Detsky Mir, under a new 131.6 billion ruble suit filed against the company by oil major Rosneft.

Sistema and the Russia–China Investment Fund (RCIF) had to cancel the placement of 6.3% of shares in Detsky Mir announced on Tuesday, as investors were worried about Rosneft and its subsidiary oil company Bashneft’s actions.

(59.1446 rubles – U.S. $1)

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