1 Sep 2021 13:00
MAGNIT PJSC (MGNT) MAGNIT PJSC: Magnit announces Board approval of the price change of the acquisition of DIXY 01-Sep-2021 / 15:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Magnit announces board approval of the price change of the acquisition of Dixy
Krasnodar, Russia (September 1, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, today announces Board decision to approve price change of the acquisition of the DIXY retail chain with 2,477 stores in Russia.
The transaction has been approved by Magnit's Board of Directors on May 18, 2021[1]. Russia's Federal Antimonopoly Service announced its clearance to the transaction on July 15, 2021 and all other conditions to closing the deal have been met. The parties have closed the transaction through Magnit's main operating subsidiary JSC "Tander" having acquired 100% of shares in DIXY Holding Limited (Cyprus).
The purchase price at closing amounted to Rub 87.6bn. The Board has approved price of the agreement of up to Rub 97.0bn. Adjustments to the purchase price were made due to changes to the net debt and working capital as per completion accounts and other conditions of the agreement regulating price adjustments.
[1] https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure; |
ISIN: | US55953Q2021 |
Category Code: | MSCU |
TIDM: | MGNT |
LEI Code: | 2534009KKPTVL99W2Y12 |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 121248 |
EQS News ID: | 1230487 |
End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.