Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

OJSC MAGNIT: Execution of Related Party Transaction


Press-release

Krasnodar

February 27, 2013

OJSC "Magnit" Announces the Execution of the Related Party Transaction

Krasnodar, February 27, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces the execution of the transaction on February 27, 2013.

The essentials of the transaction are as follows:

Type of transaction: related-party transaction

Subject of transaction: loan of funds

Parties and beneficiaries the Lender -open joint-stock company "Magnit" under transaction:

the Borrower- joint-stock company "Tander"

Maturity: loan maturity date -26.02.2016

Transaction amount: 5,000,000,000.00 rubles, which amounts to 7.65%


                               of the balance sheet value of assets of the     
                               issuer                                          

Interest rate 9.6% per annum

The assets value of the issuer 65,342,418 thousand rubles

as of the closing date of the reporting period preceding the transaction execution:

The transaction was approved by the general shareholders' meeting (minutes of the annual general shareholders' meeting of OJSC "Magnit" № w/№ of May 28, 2012).

For further information, please contact:

Timothy Post Director, Investor Relations

e-mail: Post@gw.tander.ru

Tel. in Krasnodar +7 (861) 277-45-54,210-98-10 ext. 7600

Mob.: +7 (961) 511-76-78

Direct line for investors only: +7 (861) 277-45-62

Dina Svishcheva Deputy Director, Investor Relations

e-mail: Chistyak@gw.tander.ru

Tel. in Krasnodar +7 (861) 277-45-54,210-98-10 ext. 5101

Mob.: +7-961-511-02-02

Direct line for investors only: +7 (861) 277-45-62

Company description:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX: MGNT) is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of December 31, 2012 the chain consisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family" stores and 692 cosmetics stores (drogerie) in 1,605 cities and towns throughout the Russian Federation.

Approximately two-thirds of the Magnit's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.

As of December 31, 2012 Magnit operated an in-house logistics system consisting of 18 distribution centers, employing automated stock replenishment systems and a fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnit recorded consolidated revenues of approximately $14,430 million USD and a consolidated EBITDA of $1,524 million USD.

2

END

-0- Feb/27/2013 13:18 GMT

Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement