15 Apr 2024 09:27

Vostok Investments acquires Baring Vostok's 28% stake in Russian marketplace Ozon

MOSCOW. April 15 (Interfax) - Vostok Investments has acquired about 28% of shares in Ozon from the Baring Vostok family of funds, the Russian online marketplace reported.

"As a result of the transaction, Vostok Investments now owns 59,830,028 ordinary shares and 1 Class A share of Ozon representing c. 28% of the total number and voting power of Ozon's shares," the company said.

Russian investment group Sistema PJSFC remains a shareholder of Ozon with a stake of 31.76%, and the remaining shares are in free float.

The fact that Baring Vostok would transfer its stake in Ozon to Vostok Investments as part of the separation of its Russian and international assets was announced in late December 2022. It was also reported at the time that Vostok Investment would be staffed by members of Baring Vostok's Russian team and that Baring Vostok senior partner Yelena Ivashentseva would chair this company's board of directors.

President Vladimir Putin signed a decree in mid-February 2024 allowing transactions with shares in Ozon Holdings Plc and PJSC Renaissance Insurance Group that were necessary for the restructuring of Baring Vostok's assets.

Ozon and Renaissance Insurance are not the only Russian assets of Baring Vostok being transferred to Vostok Investments - BVCP funds also invested in SkyEng, VkusVill, Familia, Solopharm and other companies - but only transactions with their shares required presidential approval, an informed source told Interfax earlier.