The acquisition of 63.8% of the Mail.Ru Group’s stakes by “MegaFon” is to be held soon, as the telecom operator’s official site announces.
The value of the deal, already approved by the Board of Directors, is USD 740 million.
“Under the terms of the projected deal, “MegaFon” acquires 11.5 million Class A shares and 21.9 million common shares in the Mail.Ru Group’s capital, representing around 63.8 percent of the Mail.Ru Group’s voting shares in New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, incorporated into the USM Group”, as the announcement states.
Thus, at the close of deal, “MegaFon” shall pay USD 640 million, and the remaining USD 100 million shall be transferred a year after. By that time, the operator would control 15.2% of the Mail.Ru Group’s authorized capital.
The companies’ operation will continue entirely under market conditions, as the deal initiators stress.
The deal is expected to approve at the upcoming meeting of “MegaFon”’s shareholders, to be held on 20 January, 2017. The purchase of the controlling stake in the Mail.Ru Group is subject to agree with the Federal Antimonopoly Service of the Russian Federation.
Let us recall that the Mail.Ru Group controls a number of well-known resources like Mail.ru, ICQ, MAPS.ME, as well as social networks “Moy Mir”, “Odnoklassniki” and “Vkontakte”.
