Saint-Petersburg, Russia; 25 April 2019– Lenta Ltd. (LSE, MOEX: LNTA) (“Lenta”), one of the largest retail chains in Russia, today confirms that the Russian Federal Antimonopoly Service released today its requisite approval (which it issued yesterday) in connection with the previously-announced agreements under which Severgroup LLC (“Severgroup”) is to acquire approximately 34.45% of Lenta’s issued and outstanding voting shares (excluding treasury shares) from Luna Inc (the investment vehicle of the TPG Group) and 7.47% of Lenta’s issued and outstanding voting shares (excluding treasury shares) from the European Bank of Reconstruction and Development. As a result, Lenta understands that Severgroup, TPG Group and the EBRD expect the completion of such acquisitions, and the launch by Severgroup of its cash offer to acquire all of the issued shares of Lenta (at a price of $18 per share) and all Lenta GDRs (at a price of $3.60 per GDR) from the holders thereof, to occur no later than 1 May 2019.
About Lenta
Lenta is the largest hypermarket chain in Russia and the country’s third largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 244 hypermarkets in 88 cities across Russia and 132 supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central regions, with a total of approximately 1,465,426 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates twelve distribution centers.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,759 people as of 31 December 20181.
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Lenta
Mariya Filippova
PR and GR manager
Tel: +7 812 380-61-31 ext.: 1892
E-mail: maria.filippova@lenta.com
Russian Media:
NW Advisors
Anton Karpov & Victoria Afonina
Ňel:+7 495 795 06 23
E-mail: lenta@nwadvisors.com
1FTE (full-time equivalent). Average FTE for 1H2018 was 49,643 employees
| 
