Sistema PJSFC (SSA)
Joint venture of Sistema and Sber completes acquisition of an additional stake in JSC Elektrozavod
1 March 2021, Moscow - Sistema PJSFC ("Sistema", the "Corporation", or together with its subsidiaries and affiliates, the "Group") (LSE: SSA, MOEX: AFKS), a Russian publicly traded investment company, announces that LLC Megapolis Invest (the "Purchaser"), a joint venture between Sistema (75.86%) and LLC Sberbank Investments ("SberInvest") (24.14%), has acquired an additional 29.64% stake in JSC Elektrozavod from a private investor for RUB 5.8bn provided to the Purchaser by SberInvest in the form of debt financing. As a result of the transaction, the Purchaser's total stake in JSC Elektrozavod has reached 94.01%.
In December 2020, the Purchaser acquired a 64.37% stake in JSC Elektrozavod and 100% in LLC Elektrokombinat (together, "Elektrozavod Group") from certain private investors for RUB 24.7bn.
Elektrozavod Group includes transformer equipment production facilities in Moscow and Ufa, maintenance divisions, research and design institutes, an engineering centre and land plots totalling 19 hectares near the Elektrozavodskaya metro station in Moscow.
For further information, please visit www.sistema.ru or contact:
Sistema PJSFC is a publicly traded Russian investment company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, e-commerce, timber processing, agriculture, real estate, tourism and healthcare services. The company was founded in 1993. Its revenue in 2019 reached RUB 656.9bn; its total assets equalled RUB 1.3tn as of 31 December 2019. Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com.
SberInvest (Sberbank Investments LLC) is a wholly owned subsidiary of PJSC Sberbank and part of its Corporate and Investment Unit. Its core operations include financial solutions and structuring through equity and mezzanine instruments, which it offers to the bank's customers.
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