Russia's Federal Antimonopoly Service satisfied the application of OJSC Joint-Stock Financial Corporation Sistema (Moscow) for the acquisition of two agricultural enterprises, the regulatory body informed.
In particular, the watchdog permitted Sistema to acquire 100% of the authorized capitals of OJSC Agrokhleboprodukt (Stavropol) and Agro-Michurinskoye LLC (Rostov region).
Both Agrokhleboprodukt and Agro-Michurinskoye grow grain and leguminous crops.
Joint-Stock Financial Corporation Sistema (JSFC Sistema, tax number: 7703104630) is a public diversified corporation providing services to more than 100 million consumers related to the following industries: telecommunications, high technologies, fuel and energy, radio and space technologies, banking services, retail trade, mass media, tourism and medical services. The company was established in 1993.
The authorized capital of JSFC Sistema is RUB 868.5 million represented by 9.65 billion common shares at par value of RUB 0.09. Vladimir Evtushenkov, the company's BOD Chairman, holds 64.18% of shares, Deutsche Bank Trust Company Americas holds 19% of shares.
Sistema's US GAAP net profit (with adjustments) for Q3 2012, according to the company's unaudited statements, increased by 66.8% to $532.227 million from $319.001 million for the same period in 2011. Net profit without one-off adjustments increased twice to $653.2 million. Consolidated revenue improved by 1% to $8.813 billion from $8.724 billion. OIBDA without one-off adjustments increased by 10.4% to $2.431 billion from $2.201 billion, OIBDA margin to 27.6% from 25.2%.
According to the information and retrieval system DataCapital, net profit (RAS) of JSFC Sistema for 9 months 2012 was RUB 99.101 billion against a net loss of RUB 33.81 billion for the same period in 2011. Revenue decreased by 9.3% to RUB 26.37 billion from RUB 29.087 billion.