Detsky Mir completes reorganization – Kommersant
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Retailer Detsky Mir completed the reorganization procedure in the form of a spin-off of a 100% subsidiary operating company OOO DM. The retailer’s subsidiaries have launched programs for the acquisition of PAO shares from the company’s shareholders, according to its press release. The company’s shares are up 4%.
The redemption of ordinary shares will be carried out at a price of 71.5 rubles. Non-resident investors from “unfriendly” countries will be able to sell their shares, bypassing accounts “C”, with a discount of 60.77 rubles. The company clarified that it had received permission from the subcommittee of the government commission for the control of foreign investment in the Russian Federation to make transactions with non-resident investors from “unfriendly” states.
Detsky Mir is Russia’s largest specialized retailer in the children’s goods market. As of December 31, 2022, the company operated 1,086 stores — Detsky Mir, Detmir Mini and Zoozavr. The main beneficiaries of Detsky Mir are Pavel Grachev, former head of PJSC Polyus, and Mikhail Stiskin, former senior vice president for finance and strategy at the gold mining company.
Detsky Mir announced a business reorganization – the transformation of the company from PJSC into a private LLC – in November 2022. One of the reasons was the difficulties experienced by foreign investors with voting at general meetings. The share of Detsky Mir shares placed on the Moscow Exchange is 60%. In April reportedthat “Children’s World” will spend 25-35 billion rubles. to buy back shares from those who disagree with the reorganization.
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