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M&A: Alfa Bank buys 14.7% equity stake in Rosinter

OAO Alfa Bank acquired 14.7% of the authorized capital of OJSC Rosinter Restaurants Holding, Rosinter informed.

Prior to this deal, the bank had no share in the company.
Besides, UK-based Credit Suisse Securities (Europe) Limited increased its equity position in Rosinter to 11.3% from 9.4%.

Also, Renaissance Securities (Cyprus) Limited (Cyprus) reduced its interest in the company to 4.3% from 14.4%.

OJSC Rosinter Restaurants Holding is a leading casual dining restaurant operator in Russia and the CIS managing 383 public catering facilities in 42 cities of Russia, CIS countries and Central Europe including the Baltic states. The company's network numbers 355 casual dining restaurants including 130 restaurants under franchise agreements and 28 coffee houses Costa Coffee. Rosinter Restaurants Holding treats visitors to the Italian, Japanese and American cuisine in restaurants employing the company's proprietary brands IL Patio and Planeta Sushi, as well as the TGI. Fridays brand under a franchise agreement). The company is also developing the Costa Coffee chain (coffee houses) under a franchise scheme. The company's shares are traded on MICEX-RTS stock exchange under the ROST ticker.

IFRS net loss of OJSC Rosinter Restorants Holding for January-September 2013 grew 1.9-fold to RUB 174.723 million from RUB 91.728 million for the same period in 2012. Consolidated net revenue decreased by 2.5% to RUB 7.666 billion from RUB 7.860 billion, operating profit before impairment and write-offs 7.7 times to RUB 32.675 million from RUB 252.619 million, EBITDA 2.3-fold to RUB 166.898 million from RUB 385.269 million, EBITDA margin to 2.2% from 4.9%. As of September 30, 2013, the company's gross debt was RUB 1.52 billion, the long-term debt obligations reaching RUB 1.501 billion (98.7% of the gross debt). Net debt stood at RUB 1.346 billion.

RAS net profit of OJSC Rosinter Restorants Holding for January-September 2013 decreased 3.9-fold to RUB 19.005 million from RUB 74.157 million for the same period in 2012. Sales loss grew by 74.5% to RUB 17.9 million from RUB 10.258 million, pre-tax profit decreased 4.2-fold to RUB 17.428 million from RUB 73.7 million.

OAO Alfa Bank (tax number: 7728168971) was established in 1990, its authorized capital is equal to RUB 59.588 billion. Almost 100% of the bank's shares belong to AB Holding, a structural unit of ABH Financial Limited B.V.I., owned by ABH Holdings. At the same time, Alfa Group co-owners Mikhail Fridman, German Khan and Alexey Kousmichoff have a 77% stake in ABH Holdings. They beneficially own 36.1%, 23% and 17.9% of the holding's shares, respectively. Alfa Bank's President Pyotr Aven, according to his personal statement, holds 14% of the shares. The Bank has 442 departments and branches operating in Moscow, Russian regions, and abroad, including a subsidiary bank in the Netherlands and financial subsidiaries in the USA and UK.

IFRS net profit Alfa Bank's group for 2012 grew by 29% to $829 million from $641 million the year before. Total equity capital increased by 20.9% to $4.2 billion.

RAS net profit of Alfa Bank for 2013 net of events after the balance sheet date grew by 42.8% to RUB 30.99 billion from RUB 21.699 billion the year before. The bank's pre-tax profit grew by 35.6% to RUB 38.142 billion from RUB 28.135 billion.

"AK&M", 15.04.2014


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