27 Mar 2019 07:35
Possible Acquisition of Lenta Ltd's shares
Saint-Petersburg, Russia; 27 March 2019 - Lenta Ltd (LSE, MOEX: LNTA) ("Lenta"), one of the largest retail chains in Russia, today announces that the Company is aware of ongoing discussions between Luna Inc. (beneficially owned by the TPG Group) and Severgroup LLC ("Severgroup") regarding a possible sale of all Luna Inc.'s shareholding in Lenta, amounting to approximately 34.13% of Lenta's capital, to Severgroup. Lenta understands that no such sale has yet been agreed between Luna Inc. and Severgroup. Any such sale could only be carried out in accordance with the memorandum and articles of association of Lenta, which require Severgroup to launch a mandatory tender offer to all shareholders/GDR-holders in connection with any such sale. At this stage there is no certainty whether a transaction will occur. Additional information will be announced in a timely manner if and when available.
This announcement will also be available on the Company's website at www.lentainvestor.com
About Lenta
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country's third largest retail chain (in terms of 2018 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 245 hypermarkets in 88 cities across Russia and 135 supermarkets in Moscow, St Petersburg, Central, Siberia and Ural with a total of approximately 1,472,714 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates twelve distribution centres.
The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,759 people as of 31 December 2018.
The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.
For further information please visit www.lentainvestor.com, or contact:
Lenta Mariya Filippova PR and GR manager Tel: +7 812 380-61-31 ext.: 1892 E-mail: maria.filippova@lenta.com |
Russian Media: NW Advisors Anton Karpov & Victoria Afonina Тel:+7 495 795 06 23 E-mail: lenta@nwadvisors.com |