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M&A: TFC-Finance buys 24.99% equity stake in Mostotrest

CJSC TRANSFINGROUP Asset Management reduced its equity position in OJSC Mostotrest to 4.35% from 29.34%, Mostotrest informed.

OJSC TFC-Finance acquired a 24.99% equity stake in Mostotrest.

Prior to that transaction, TFC-Finance had no voting shares in the construction company.

CJSC TRANSFINGROUP Asset Management (tax number: 770816837) is principally engaged in the management of securities and investment funds.

OJSC TFC-Finance (tax number: 7702821106) is engaged in the management of holding companies, consulting on financial intermediation, business and management activities, market research and public opinion polling, capital investments in property and securities.

OJSC Mostotrest (tax number: 7701045732) is a diversified company engaged in infrastructure development projects. Mostotrest's core competences include construction and rehabilitation of automobile, railway and urban bridges, automobile roads and other transport infrastructure.

The company was established in 1930 as a developer of complex and oversized bridges, and has built and rehabilitated more than 7,500 infrastructure projects (bridges, flyovers, tunnels and interchanges) to date.

Mostotrest's ownership structure is as follows: Marc O'Polo Investments (beneficiary shareholders: Arkady and Igor Rotenberg and top-managers of the transport group N-Trans Konstantin Nikolaev, Nikita Mishin and Andrei Filatov) holds 38.6%; Transfingroup Management Company, trust management of NPF Blagosostoyanie's pension funds holds 27.1%. 34.3% of the shares are in free float.

IFRS net profit of Mostotrest for 2012 increased by 17% year-on-year to RUB 4.3 billion. Adjusted net profit increased by 20% and reached RUB 6.4 billion. Revenue went up 26% to RUB 123.7 billion, GP increased by 14% to RUB 14.8 billion driven by an increase in both in-house and subcontracted construction volumes. EBITDA increased by 22% to RUB 11.6 billion, EBITDA margin was broadly flat at 9.4%.

According to the information and retrieval system DataCapital, RAS net loss of OJSC Mostotrest for 9 months 2013 was RUB 1.906 billion against a profit of RUB 1.977 billion the year before. Revenue increased by 30.21% to RUB 56.819 billion from RUB 43.637 billion, sales profit decreased 5.37-fold to RUB 382.842 million from RUB 2.056 billion, loss before tax was RUB 2.264 billion against a profit of RUB 2.463 billion.

"AK&M", 13.01.2014


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