Translated material
VTB completely sells its stake in Magnit
VTB plans to withdraw from the shareholders of the retail network "Magnit" - the bank itself announced this. Now the bank owns 17.3% of the company's shares, most of which will be sold to Marathon Group, the second largest shareholder of the retailer.
to it According to VTB (RBC refers ), the bank's current stake in Magnit will be sold according to the following scheme:
- 12.9% of the shares will be acquired by Alexander Vinokurov's Marathon Group (specializes, among other things, in retail and transport infrastructure), now the second largest shareholder of Magnit. As a result of this transaction, the share of the investment group will increase to 29.75%. RBC notes that since in this case the share of Marathon Group will exceed 25%, the sale of another 4.75% must be approved by the FAS.
- Another 4.4% of the shares will be offered for sale to institutional and retail investors as part of the accelerated formation of the order book.
The bank does not name the final cost of the transaction - VTB notes that the amount will be determined based on the results of the closing of the accelerated order book.
- For the first time, VTB entered the capital of Magnit in the winter of 2018 - then the founder of the retailer, Sergei Galitsky, sold 29% of Magnit to the bank. He explained the deal with "disagreements with investors about the future of the network." However, a few months later, the bank reduced its stake in the retailer by selling 11.8% of the shares of Marathon Group.
- A few days before the deal between VTB and Galitsky in 2018, Magnit for the first time in the previous seven years lost its leadership in capitalization to its main competitor, X5 Retail Group (Perekrestok, Pyaterochka). RBC notes that Magnit managed to regain leadership in this indicator only four years later: last week, on October 12, Magnit's capitalization reached $9.201 billion, X5 - $9.149 billion.
- This year, Magnit made a historic deal - it bought one of the oldest and largest discount chains, Dixy. We talked about this in more detail here .