On September 2, Russia's Federal Antimonopoly Service granted the application of OJSC Sollers for the acquisition of 13.1909% of the common shares in Public JSC Ulyanovsky Avtomobilny Zavod, the regulatory body informed.
Upon completion of the transaction, Sollers's equity stake in the Ulyanovsk-based automobile maker will increase 79.4925%. The watchdolg established that the transaction applied for would not restrict competition.
Public JSC Ulyanovsky Avtomobilny Zavod (UAZ, English: Ulyanovsk Automobile Plant, tax number: 7300000029) established in 1941 now is part of the company Sollers. The enterprise accounts for about 15% of the Russian off-road motor vehicle market. Since late 2003, the plant has been manufacturing UAZ Hunter; since August, 2005 it has been engaged in series production of UAZ Patriot.
The authorized capital of the enterprise is RUB 4.143 billion represented by 3,725,819,763 common and 416,837,248 preferred shares at par value of 1 ruble. The Federal Agency for State Property Management owns 13.19% of its authorized capital (14.67% of common shares), 66.07% (67.77% of common shares) belonging to OJSC Sollers.
According to the information and retrieval system DataCapital, RAS net profit of the company for H1 2013 dropped 2.15-fold to RUB 384.577 million from RUB 825.939 million the year before. Revenue increased by 0.24% to RUB 13.135 billion from RUB 102 thousand, sales profit by 13.74% to RUB 803.125 million from RUB 706.075 million, pre-tax profit decreased by 88.14% to RUB 487.398 million from RUB 916.989 million.
Sollers Group (tax number: 3528079131) unites Ulyanovsk Automobile Plant, Zavolzhye Engine Plant (official name: Zawolzhsky Motorny Zawod), Sollers – Naberezhniye Chelny (former Minicar Plant) and other production assets manufacturing Korean off-road cars SsangYong, motor cars and commercial cars of Fiat, Japanese Isuzu trucks. Besides, the company is developing a network of dealing centers and runs its own leasing department. The major shareholder of Sollers is its general director Vadim Shvetsov who owns 58% of shares.
IFRS net profit of OJSC Sollers for H1 2013 dropped by 35.19% to RUB 1.691 billion from RUB 2.609 billion the year before. Revenue decreased by 11.46% to RUB 27.418 billion from RUB 30.967 billion, profit from operations by 23.96% to RUB 2.615 billion from RUB 3.439 billion, EBITDA by 20.69% to RUB 3.121 billion from RUB 3.935 billion.
According to the information and retrieval system DataCapital, RAS net profit of OJSC Sollers for H1 2013 was RUB 671.909 million against a loss of RUB 856.812 million the year before. Revenue dropped 2.61-fold to RUB 96.092 with RUB 250.539 billion.
AK&M "M&A Market"
"AK&M", 31.10.2013 10:30