Lenta Ltd Lenta confirms FAS approval (1411X)
25 Aprile 2019 - 4:03PM
UK Regulatory
TIDMLNTR TIDMLNTA
RNS Number : 1411X
Lenta Ltd
25 April 2019
LENTA CONFIRMS FAS APPROVAL RELATING TO THE ACQUISITION OF ITS
GDRS BY LLC "SEVERGROUP" AND THE ANTICIPATED LAUNCH OF AN MTO FOR
ITS GDRS/SHARES
Saint-Petersburg, Russia; 25 April 2019 - Lenta Ltd. (LSE, MOEX:
LNTA) ("Lenta"), one of the largest retail chains in Russia, today
confirms that the Russian Federal Antimonopoly Service released
today its requisite approval (which it issued yesterday) in
connection with the previously-announced agreements under which
Severgroup LLC ("Severgroup") is to acquire approximately 34.45% of
Lenta's issued and outstanding voting shares (excluding treasury
shares) from Luna Inc (the investment vehicle of the TPG Group) and
7.47% of Lenta's issued and outstanding voting shares (excluding
treasury shares) from the European Bank of Reconstruction and
Development. As a result, Lenta understands that Severgroup, TPG
Group and the EBRD expect the completion of such acquisitions, and
the launch by Severgroup of its cash offer to acquire all of the
issued shares of Lenta (at a price of $18 per share) and all Lenta
GDRs (at a price of $3.60 per GDR) from the holders thereof, to
occur no later than 1 May 2019.
About Lenta
Lenta is the largest hypermarket chain in Russia and the
country's third largest retail chain. The Company was founded in
1993 in St. Petersburg. Lenta operates 244 hypermarkets in 88
cities across Russia and 132 supermarkets in Moscow, St.
Petersburg, and the Siberia, Urals and Central regions, with a
total of approximately 1,465,426 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
centers.
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(1) .
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'.
A brief video summary on Lenta's business and its Big Data
initiative can be seen here.
For further information please visit www.lentainvestor.com, or
contact:
Lenta Russian Media:
Mariya Filippova NW Advisors
PR and GR manager Anton Karpov & Victoria Afonina
Tel: +7 812 380-61-31 ext.: el:+7 495 795 06 23
1892 E-mail: lenta@nwadvisors.com
E-mail: maria.filippova@lenta.com
(1) FTE (full-time equivalent). Average FTE for 1H2018 was
49,643 employees
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
OUPBSGDSGGDBGCU
(END) Dow Jones Newswires
April 25, 2019 10:03 ET (14:03 GMT)
Grafico Azioni Lenta 144a (LSE:LNTR)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Lenta 144a (LSE:LNTR)
Storico
Da Giu 2023 a Giu 2024