8 April 2020
Delo Group paid almost 60 billion rubles to PJSC TransContainer minority shareholders as part of the repurchase of 49.6410% shares
On April 8, Delo Group’s OOO “Delo-Center” paid for the repurchase of 49.6410% shares of PJSC TransСontainer minority shareholders as a part of a mandatory offer, thereby consolidating over 99.6% of the largest intermodal container operator in Russia.
“Entire and timely fulfillment of our obligations as a part the offer indicates the seriousness of Delo Group intentions for the development of TransContainer. The difficult situation in the economic and transport sectors caused by the coronavirus pandemic forces us to make a number of immediate decisions. This week we discussed working options for the Company's adjusted budget and stress development scenarios of a possible decline in cargo flow. The consolidation of TransContainer greatly facilitates the speed of corporate decisions. We are grateful to Sberbank for reliable partner, perfectly fulfilling all obligations within the framework of our long-term cooperation in these difficult times” said Sergey Shishkarev, the founder, President and major shareholder of Management Company “Delo”.
The deadline for accepting the mandatory offer from OOO “Delo-Center” on the purchase of all ordinary registered uncertified shares of PJSC “TransContainer” ended on March 25, 2020.
As a part of the offer, the minority shareholders submitted 6,897,511 shares (49.6410%) for buyback. The purchase price of one share is 8,679 rubles 52 kopecks. The package price amounted to 59.9 billion rubles. The total price of 99.6410% shares held by Delo Group exceeded 120 billion rubles.
In November 2019, OOO “Delo-Center”, a part of Delo Group, won the auction on acquisition of 50% plus two shares of PJSC “TransContainer”.
Delo Group offered 60.3 billion rubles for the shares. The purchase of controlling interest transaction was completed in December 2019.
The shares repurchase was financed by the credit line from PJSC Sberbank.