7th Mar 2011 07:00
Press-release
Krasnodar
March 5, 2011
Krasnodar, March 5, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the results of the transaction executed by the Company on March 4, 2011.
The essentials of the transaction are as follows:
Type of transaction: | loan agreement |
Subject of transaction: | loan of funds |
Parties and beneficiaries under transaction: | the Lender - Open joint-stock company "Magnit" the Borrower - Close joint-stock company "Tander" |
Maturity: | loan maturity - 28.02.2014 |
Transaction amount: | 5,000,000,000 rubles, which amounts to 15.0843% of the issuer's assets value |
Interest rate | 8.5% per annum |
The assets value of the issuer as of the closing date of the recent reporting period prepared in accordance with RAS: | 33,147,148,000 rubles |
For further information, please contact:
Oleg Goncharov | Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 |
Dina Svishcheva | Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of December 31, 2010 the chain consisted of 4,002 convenience stores, 51 hypermarkets and 2 cosmetics stores (drogerie) in 1,216 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of December 31, 2010 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,642 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million
Related Shares:
MGNT.L