A joint venture of Sberbank and Mail.ru Group focusing on the use of transport and technology for food distribution, has acquired a controlling stake in Samokat, an express delivery service for products and household goods, the bank informed.
Following the acquisition of the financial investors' stake in the project and obtaining the necessary approvals from the corporate and regulatory authorities, including Russia's Federal Antimonopoly Service (FAS Russia) the JV will hold a 75.6% stake in the service. The founders and management team of the service have retained minority stakes to remain co-owners of the company.
Samokat will be integrated into the ecosystems of Sberbank and Mail.ru Group.
Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. The Bank is the principal lender to the Russian economy and has the highest share in the market of deposits.
The bank's authorized capital is RUB 67.76 billion. It consists of 21,586,948 thousand common shares and 1 billion preferred shares with a face value of 3 rubles each.
The Russian Federation represented by the Ministry of Finance owns 52.32% of Sberbank's total voting shares.
Samokat is a service for home delivery of food and essential goods to customers in 15-30 minutes. The service currently has 168 outlets in two Russian capitals, and the product range exceeds 2,500 items. Every day, Samokat fulfils about 40,000 orders, the average purchase amount increased by 30% in the past month. Delivery is free of charge for the customers.
Mail.Ru Group Limited is the holding company of a number of subsidiaries, including Russian operational companies. The company owns the leading Russian-language social networks Vkontakte and Odnoklassniki, an e-mail service, the Mail.ru web portal and three messengers. Mail.ru the Group also owns game projects united under the MY.GAMES brand. In 2019, the company launched the Mail.ru Group Tech Lab division engaged in the development of new technologies. Mail.ru Group owns a stake in AliExpress Russia, a joint venture owned together with Alibaba Group, MegaFon and RDIF, and develops the O2O platform in the food and transport segment together with Sberbank.
Aggregate IFRS net profit of Mail.ru Group for Q1 2020 decreased by 22.2% year-on-year to RUB 2.203 billion. Mail.ru Group's share in the net results of the key JVs (AliExpress Russia and O2O) was a loss of RUB 2.26 billion in the first quarter. The company's total segment revenue increased by 14.3% to RUB 22.332 billion, total segment EBITDA increased by 4.1% to RUB 5.729 billion. Net debt stood at RUB 11.422 billion as of March 31, 2020.
AK&M "M&A Market"
"AK&M", 21.05.2020 15:22