Sistema says sells entire 20.38% stake in Detsky Mir

MOSCOW, Sep 4 (PRIME) -- Russian multi-industry holding Sistema has sold its entire 20.38% stake in children goods retailer Detsky Mir, Sistema said in a statement on Friday.  

"Sistema PJSFC… a publicly traded diversified holding company, announces that as a result of the offering of existing shares of Detsky Mir, Russia’s largest specialized children’s goods retailer, Sistema has fully divested its 20.38% ownership stake in Detsky Mir," the company said.

On Wednesday, Sistema and the Russia–China Investment Fund (RCIF) launched a planned sale of all their shares in Detsky Mir at 112 rubles per share. The deal will allow Detsky Mir to become the first Russian company with 100% shares in free float, Sistema’s President Vladimir Chirakhov said.

(75.4680 – U.S. $1)

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