After the business split, the Russia-oriented part of investment company Baring Vostok will receive shares in 12 companies, including Ozon, Vkusvill and Skyeng. In exchange for shares, Vostok Investments will assume debt obligations and pay $150 million.
Details of investment company Baring Vostok’s split into international fund Baring Private Equity and Russian holding company Vostok Investments are outlined in the agreement Ozon submitted to the US Securities and Exchange Commission.
As a result of the business split, Vostok Investments will receive shares in 12 companies, including Ozon, Skyeng and Vkusvill. In exchange, the holding company will assume $140 in asset debt obligations and pay $150 million three years after the company’s spin-off closes.
The funds of the management company Baring Private Equity, which will be managed by the founder of Baring Vostok, Michael Calvey, will receive assets in the international companies BlaBlaCar, Kaspi.kz, Kolesa.kz and others.
The reorganization of the Baring Vostok business became known at the end of December 2022. The company will be divided into Russian and international parts, which will develop independently of each other. Vostok Investments will continue to invest both in current projects that are operating at a loss and in new projects.
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