MAGNIT PJSC: 'Magnit' Group of Companies and Owners of LLC 'ETK' Stopped Negotiations

Press Release

Krasnodar

December 15, 2017

 

"Magnit" Group of Companies and Owners of LLC "ETK" Stopped Negotiations

 

Krasnodar, Russia (December 15, 2017): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT) announces the following:

 

Owners of LLC "ETK" and "Magnit" Group of companies announce that they stop negotiations on the sale of 100% share in the charter capital of LLC "ETK" to "Magnit" Group of companies due to the intention of the owners of "Krasniy Yar" and "Baton" retail chain to continue their independent expansion.

 

For further information, please contact:

 

Timothy Post	Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600
Dina Svishcheva	Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 15101
Media Inquiries	Media Relations Department [email protected]

 

Company description:

Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2017, Magnit operated 36 distribution centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogerie stores) in 2,664 cities and towns throughout 7 federal regions of the Russian Federation.

 

In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.