JSC Sitronics-N (a subsidiary of JSC Sitronics) acquired 77.611% of the common shares in OJSC Kvant representing 77.972% of the target company's authorized capital, Kvant informed.
Earlier, Sitronics sold its 20.9307% equity stake in CJSC NVision Group and 76.796% equity stake in JSC Mikron. Also, Sitronics ceased to own controlling stakes in JSC Kvant, CJSC Koncel, CJSC Sitronics Complex Automated Management Systems, and JSC Elaks.
It will be recalled that in July 2013, Sitronics was restructured through the spin-off of Sitronics-N and CJSC RTI Microelectronics. The authorized capital of Sitronics-N was set equal to RUB 1.427 billion, the authorized capital of RTI Microelectronics is RUB 7.764 billion.
JSC Sitronics (tax number: 7735116621) provides solutions for telecommunications, IT and microelectronics in Russia, the CIS countries, Central and Eastern Europe, in the Middle East and Africa. The company was established 2002. The authorized capital of Sitronics is RUB 9.547 billion. OJSC RTI (a subsidiary of JSFC Sistema) owns 100% of Sitronics shares.
The principal assets of Sitronics are located in Moscow, Prague and Athens (telecommunication solutions), Kiev (IT solutions), and Zelenograd (microelectronics).
US GAAP net loss of Sitronics for 2012 increased by 38.3% to $119.976 million from $86.728 million for 2011. Consolidated revenue decreased by 38.7% to $903.494 million from $1.475 billion.
According to the information and retrieval system DataCapital, RAS net loss of Sitronics for H1 2013 decreased by 1% to RUB 524.555 million from RUB 529.916 million for the same period in 2012, revenue 24.3-fold to RUB 10.829 million from RUB 262.663 million.
JSC Kvant (tax number: 7735032629) established as a result of the privatization of the state-owned enterprise founded in 1984 manufactures electrical and radio components as well as vacuum devices (electronic valves).
According to the information and retrieval system DataCapital, RAS net loss of Kvant for H1 2013 decreased by 42.8% to RUB 20.229 million from RUB 35.37 million for the same period in 2012. Revenue increased by 8.7% to RUB 59.389 million from RUB 54.655 million.