FAS approved a deal to buy Gallery operator by Russ Outdoor group – Kommersant
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The Federal Antimonopoly Service (FAS) has approved the application of the Russ Outdoor group for the purchase of the outdoor advertising operator Gallery, follows from the message of the service. Last week, the FAS confirmed that it was considering the group’s petition (see “Kommersant” of June 23).
The fact that the group is going to buy its closest competitor Gallery was reported by RBC in January 2022. According to SPARK-Interfax, Gallery Service LLC is 100% owned by businessman Ivan Tavrin through the Media 1 holding. At the end of 2022, LLC revenue amounted to 4.3 billion rubles, net profit – 1.7 billion rubles. A year earlier, the company’s revenue was at the level of 4.4 billion rubles. with a net profit of 464 million rubles. The revenue of Rus Outdoor LLC in 2022 amounted to 14 billion rubles, net profit – 820 million rubles. In 2021, these figures amounted to 11 billion rubles. and 1.3 billion rubles. respectively.
The FAS emphasized that Russ Outdoor was obliged not to raise prices for advertising services until the end of 2023.
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