Delo Group says it is set to consolidate 99.6% of PJSC TransContainer.
In November 2019, OOO “Delo-Center”, part of Delo Group, won the auction on acquisition of 50% plus two shares of PJSC TransContainer. Delo Group offered 60.3 billion rubles for the shares. The deadline for accepting the mandatory offer from OOO “Delo-Center” on the purchase of all ordinary registered uncertified shares of PJSC “TransContainer” ended on March 25, 2020. As a part of the offer, the minority shareholders submitted 6,897,511 shares (49.6410%) for buyback.
The purchase price of one share is 8,679 rubles 52 kopecks. The total value of 99.6410% shares will exceed 120 billion rubles.
The President of Delo Group Sergey Shishkarev commented on the result of the offer: “We were prepared for any decision of the PJSC TransContainer shareholders, whose experience and competencies we value a great deal. The option to acquire up to 100% of the company was being considered along with the alternative. Consolidation of 99.6% of the asset by Delo Group will create additional opportunities for synergy of the Group’s transportation and logistics business, including port and railway container assets, which we will develop with our partners ROSATOM State Corporation.
In the next day the new Board of Directors will be elected where I intend to become Chairman. The development strategy of the company will be developed after completion of the formal procedures for the shares’ purchase”.
OOO “Delo-Center” is obliged to buyout the shares within 17 days as part of the mandatory offer, after which the shares will become the property of the Group. The shares repurchase will be financed by a previously opened credit line from PJSC Sberbank.
Delo Group is the major Russian transportation and logistics holding company that owns and operates port container terminals in the Azov and Black Sea, Baltic and Far-Eastern basins, a wide network of railway container terminals, a fleet of containers and flatcars. The Group’s stevedore business is represented by DeloPorts holding and the leading operator of port container terminals Global Ports. TransContainer and Ruscon assemble the transportation and logistics business of Delo Group.
TransContainer is a Russian intermodal container operator that manages the largest fleet of containers and flatcars in Russia over the entire 1520 standard railway network.
Related link:
Delo Group completed purchase of controlling interest in PJSC “TransContainer”>>>>