Russia's FAS approves deal to transfer assets of Russ Group to RVB LLC

MOSCOW. Sept 20 (Interfax) - Russia's Federal Anti-monopoly Service (FAS) has approved the petition of the Wildberries and Russ (RVB LLC) merged company to transfer the assets of Russ Group to the merged company, the press service of RVB LLC said.

The FAS confirmed the deal had been approved. "During the analysis of the deal, the service did not detect any possible limit on competition in the market due to the fact that the deal affects different markets," a representative of the service told Interfax.

Thus, Stinn LLC, the main legal entity of Russ, will transfer its assets to the capital of the merged company. According to the Unified State Register of Legal Entities, Stinn holds stakes in eight companies, including 35% of RVB, while the others companies are associated with the Russ Group of Companies.

"RVB LLC will own the legal entities of Russ Group as part of transferring the stakes," the press service said.

Wildberries transferred its assets to RVB LLC in August this year.

Wildberries marketplace and Russ Group, an outdoor advertising operator, announced the merger in June aimed at "creating a modern high-tech digital trading platform and providing seamless tools for developing small and medium businesses in the countries of presence." The parties to the deal have not disclosed the legal and financial parameters, as well as the format of the merger.