In November 2019, Delo-Center, part of Delo Group, won the auction on acquisition of 50% plus two shares of TransContainer. Delo Group offered 60.3 bn rubles ($752.3 mn) for the shares.
The deadline for accepting the mandatory offer from Delo-Center on the purchase of all ordinary registered uncertified shares of 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 bn rubles ($1.5 bn).
‘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’, Sergey Shishkarev, President of Delo Group, said commenting on the result of the offer.
‘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, he added.
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 Sberbank.