The Detsky Mir group has completed the transformation of the company into a private company, the retailer said in a statement. These plans were announced in November 2022 due to sanctions pressure on the Russian economy and the difficulties that come with certain restrictions.
In May 2023, Detsky Mir launched a share buyback program as part of its ongoing transformation. As a result, JSC DMF consolidated 58.26% of the voting shares of PJSC Detsky Mir.
Part of the repurchased shares was paid in accordance with the terms of the offer of JSC DMF – shares of JSC DMK (owns 100% of the shares of the private operating company LLC DM, spun off from PJSC Detsky Mir in May 2023). Thus, the shareholders of JSC Detsky Mir, who accepted the offer of JSC DMF with payment for shares in the securities of JSC DMK, acquired 100% of the shares of JSC DMK and full control over the operational business of Detsky Mir.
Subsequently, DMF JSC will offer the owners of the remaining shares to buy them back. The price of the shares being offered is expected to be no less than 71.5 rubles per share.
The company also added that they intend to appeal to the government with a request to allow the payment of funds to investors from hostile countries, bypassing type “C” accounts.
Detsky Mir announced his transition to private business in November last year. The reason was the consequences of international sanctions and the response of the Russian state to them. For example, foreign investment funds with shares in the structure were deprived of the opportunity to carry out transactions on the Moscow Stock Exchange.
Author:
Anastasia Marina
Source: RB
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