Page 130 - RusRPTOct23

9.2.5 Retail corporate news
• Detsky Mir
Russian children goods retailer Detsky Mir has completed its reorganization into a private company from a joint-stock company, Detsky Mir said in a statement on September 21. “Transformation into a private business, announced in November 2022, has been completed,” the statement read. The company bought back 58.26% of shares from shareholders.
• Other
The net profit of Russian discounter retailer Fix Price almost quadrupled on the year to 19.6bn rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on September 7. Revenue grew by 3% to 135.677bn rubles, with retail sales rising by 2.9% to 120.086bn rubles and wholesale revenue growing by 3.3% to 15.591bn rubles. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 9.3% to 23.562bn rubles, and the EBITDA margin amounted to 17.4%.
9.2.6 Agriculture corporate news
The structures of the ex-Minister of Agriculture Alexander Tkachev are buying the main producer of sunflower oil in Russia - the Yug Rusi Group of Companies, Kommersant reported on September 5. The publication estimates the amount of the transaction at 40 billion rubles without debt.
The general director of the legal entities of the South of Rus' has already changed, it follows from the Unified State Register of Legal Entities: instead of Dmitry Kislov (the son of the founder and owner of the group of companies Sergey Kislov), he is Kamil Muzafarov. The transaction is carried out according to a pledge scheme: Muzafarov has a Moscow Resource LLC (probable buyer) pledged in the Moscow Credit Bank, and the share of Yug Rus in uniting the sold oil extraction assets of OOO MEZ Yug Rusi was transferred to the same bank as a pledge.
Muzafarov's structures act in the interests of the family-owned ex-minister of Agrocomplex named after. N.I. Tkachev, say four sources of the publication. The scheme with formally unrelated structures was already used by Agrocomplex when buying the Voronezh assets of the Czech PPF Group and the land bank of the same Yug Rus last year. Kommersant was also the first to report these purchases, and the information about them was fully confirmed.
130 RUSSIA Country Report October 2023 www.intellinews.com