Moscow, Russia - July 3, 2013 - Sistema JSFC ("Sistema", the "Group" or the "Company") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces the completion of another stage in the reorganisation of the Group's transportation assets under the SG-trans OJSC ("SG-trans") brand: Sistema has sold a 15% stake in SG-trans to Unirail Holdings Limited ("Unirail") for RUB 2.5 billion. As a result of this deal, Unirail and Sistema now each own 15% stakes in SG-trans.
As previously announced, 70% of SG-trans is owned by Financial Alliance LLC ("Financial Alliance"), whilst Sistema and Unirail each hold 50% stakes in Financial Alliance.
Upon completion of the reorganisation, Sistema and Unirail will have equal ownership of, and management rights over, the railway assets, sharing the risks and the initial investments of Sistema.
The final stage of the restructuring of Sistema's rail assets involves the merger of Financial Alliance with SG-trans under the SG-trans brand. This will result in a new combined entity in which each party will own a 50% stake. Sistema and Unirail will conduct the operational and strategic management of the company on a parity basis.
In addition, as previously announced, Sistema plans to sell 100% of SG-trading (comprised of SG-trans' former non-core assets relating to LPG storage and trading) to a third party.
The completion of the reorganisation and restructuring of the Group's transportation assets remains subject to the execution and implementation of legally binding documents and receipt of necessary governmental and corporate approvals by all parties.
Further steps in the strategic integration of the Group's transportation assets will be announced in due course.
***
For further information, please visit www.sistema.com or contact:
Investor Relations Public Relations
Evgeniy Chuikov Yulia Belous
Tel: +7 (495) 692 1100 Tel: +7 (495) 730 1705
ir@sistema.ru pr@sistema.ru
| 
.jpg){kind=small}
