Sistema PJSFC (Sistema, the Corporation, or together with its subsidiaries and affiliates, the Group) (LSE: SSA, MOEX: AFKS), a Russian publicly traded investment company, announces that LLC Megapolis Invest (the Purchaser), a joint venture between Sistema (75.86%) and LLC Sberbank Investments (SberInvest) (24.14%), has acquired an additional 29.64% stake in JSC Elektrozavod from a private investor for RUB 5.8bn provided to the Purchaser by SberInvest in the form of debt financing. As a result of the transaction, the Purchaser total stake in JSC Elektrozavod has reached 94.01%.
In December 2020, the Purchaser acquired a 64.37% stake in JSC Elektrozavod and 100% in LLC Elektrokombinat (together, Elektrozavod Group) from certain private investors for RUB 24.7bn.
Elektrozavod Group includes transformer equipment production facilities in Moscow and Ufa, maintenance divisions, research and design institutes, an engineering centre and land plots totalling 19 hectares near the Elektrozavodskaya metro station in Moscow.
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