“Magnit” closed a deal to buy out a 21.5% stake from foreign investors – Kommersant

Magnit, as part of the tender offer, completed the acquisition of shares from shareholders who owned them through Euroclear Bank. The company acquired more than 21.903 million shares – about 21.5% of all issued and outstanding shares for RUB 48.5 billion.

“In total, settlements took place with 189 sellers from 21 countries, including the Baltic countries, Scandinavian countries, Singapore, Japan, Canada, Australia, USA, Great Britain, Germany and other jurisdictions,” reported the Magnit press service (.pdf).

In the future, Magnit may buy back shares from foreign holders who, for one reason or another, did not take part in the tender offer. The price at which Magnit is ready to buy securities from non-residents will remain the same – 2,215 rubles. per share, the company said.

On receipt of applications for redemption from non-residents of 21.5% of outstanding Magnit securities announced 26 July. The buyout was carried out by a subsidiary of Magnit Alliance. The company set the limit for repurchasing shares of non-residents at 29.8%. August 10 “Magnit” completed intermediate stage of repurchase of own shares from non-resident shareholders in the amount of RUB 37.4 billion, which is 16.6% of all company shares in circulation.