Lenta shares rose in price against the background of the announcement of the purchase of the Monetka grocery store chain by 3.6% to 777 rubles, compared with the price at the close of main trading on October 16, according to data from the Moscow Exchange.
By 10.18 Moscow time the price of the securities was 769 rubles. (+2.5%). The Moscow Exchange Index at this time amounted to 3233.79 points (-0.03%). Since the beginning of the year, the retailer’s quotes have increased by 11.4%, the benchmark – by 50.13%.
“Ribbon» reported about the acquisition of the Monetka retail chain on the morning of October 17 on the website of the Corporate Information Disclosure Center. The chain includes 2,120 stores, most of them are located in Western Siberia and the Urals. Together with the shops “Ribbon» acquired five distribution centers and more than 560 trucks.
At the end of 2022, Monetka’s revenue amounted to 177.8 billion rubles. – the figure increased by 29% compared to the results of 2021, the retailer specified in its message. The transaction amount is not specified. The source of its financing is Lenta’s own funds, as well as borrowed money.
The retailer noted that after the purchase, the Monetka retail chain will continue to operate as a separate legal entity. The chain’s stores will operate under the same brand. Lenta will include the newly acquired assets in its financial statements from October 2023.
Lenta’s plans to acquire Coin became known at the end of July. By assessment General Director of Infoline Analytics Mikhail Burmistrov, the size of the transaction could be 60–70 billion rubles. or 100 billion rubles.
The Monetka retail chain was founded in Yekaterinburg in 2001. Its owner was Roman Zabolotnov. Previously, the businessman owned another chain of grocery stores, Wright. He sold her X5 Group in 2020
The Lenta hypermarket chain is owned by Alexey Mordashov’s Severgroup company. In 2021, Infoline noted that it ranks fourth among the largest retailers by revenue. In recent years, Lenta bought the online hypermarket Utkonos for 20 billion rubles, as well as the Billa supermarket chain from the Rewe Group for 215 million euros. (about $263.7 at the exchange rate).