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M&A: X5 withdraws application to FAS Russia for purchase of Tamerlan Group

X5 Retail Group N.V. withdrew its previously submitted application to the Federal Antimonopoly Service for the acquisition of Tamerlan Group, X5 informed.

Prior to the application withdrawal from Russia's Federal Antimonopoly Service, X5 was in negotiations with Tamerlan Group managing 350 stores in Volgograd and Samara; these negotiations have now been terminated.

X5 Retail Group N.V. is the largest retail company in Russia in terms of sales. The company runs stores in several formats: the Pyaterochka soft discount stores, the Perekrestok supermarkets, and the Karusel hypermarkets, along with corner shops under various brands. On May 18, 2006, the merger of Pyaterochka and Perekrestok established a leading company in the grocery retail trade market of Russia. On June 26, 2008, X5 completed the acquisition of Karusel store chain, thereby considerably strengthening its power in the hypermarket segment. In 2010, the company acquired discount network Kopeyka.

As of August 5, 2014, X5 shareholders are: Alfa Group (47.86%), Pyaterochka founders (14.43%), X5 directors (0.03%), the treasury GDRs (treasury stock) accounting for 0.03%; 37.64 of shares being in free float.

IFRS net profit of X5 Retail Group N.V. for 2013 was $344.9 million against a loss of $126.5 million the year before. Revenue increased by 6.3% to $16.785 billion from $15.795 billion, GP by 9.9% to $4.093 billion from $3.724 billion, EBITDA by 7.1% to $1.204 billion from $1.124 billion.

IFRS net profit of X5 Retail Group N.V. for Q1 2014 grew by 24.7% to RUB 2.469 billion from RUB 1.98 billion the year before. Revenue increased by 13.9% to RUB 144.167 billion from RUB 126.524 billion. EBITDA grew by 13.3% to RUB 9.796 billion from RUB 8.645 billion, operating profit by 11.8% to RUB 5.907 billion from RUB 5.282 billion.

"AK&M", 06.08.2014


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