Sistema, RCIF sell all shares in Detsky Mir for 20.7 bln rbl

MOSCOW, Sep 2 (PRIME) -- Russian multi-industry holding Sistema and the Russia–China Investment Fund (RCIF) are selling all their shares in children goods retailer Detsky Mir at a price of 112 rubles per share, the companies said on Wednesday.

“The size of the offer amounts to 184,750,001 existing shares of Detsky Mir, which corresponds to 25% plus one share of the company’s capital, which represents the entire stake belonging to the selling shareholders. The shares will be sold at a price of 112 rubles per share,” the statements said.

After the deal, Sistema and RCIF will completely cease their ownership in Detsky Mir and will receive a total of 20.692 billion rubles for the stake. Sistema will get 16.871 billion rubles and RCIF will receive 3.821 billion rubles.

The deal will allow Detsky Mir to become the first Russian company with 100% shares in free float, Sistema’s President Vladimir Chirakhov said.

The Russian Direct Investment Fund’s (RDIF) CEO Kirill Dmitriev said that over 55% of the bidding book for Detsky Mir’s shares was signed by leading international funds from Europe, the U.S., and Asia.

(73.5849 rubles – U.S. $1)

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