A1 boosts stake in Nezavisimost to 49.9%
MOSCOW. April 15 (Interfax) - A1, the investing division of Alfa-Group, has increased its stake in car dealer Nezavisimost by buying stake from Goldman Sachs and Alfa Private Equity Partners (APEP), an A1 representative told Interfax.
This concerns 14.95% stake in Nezavisimost, the representative said, meaning that A1 has increased its stake in the company to 49.95% from 35%. Nezavisimost redirected questions concerning the deal's details to A1, which in turn declined to disclose any details. In an annual report, Alfa-Group said APEP bought stake in the car dealer in 2007 and "sold the investment" at the beginning of 2014.
Alfa Private Equity Partners, L.P., a direct investment fund controlled by ACP, left the last of its investments in 2014 and is planning to close the fund soon.
Nezavisimost is a leading Russian car dealer whose portfolio includes Audi, Volkswagen, BMW, Jaguar, Land Rover, Volvo, Ford, Mazda, Peugeot, Mitsubishi and KIA. The dealership has 17 showrooms in Moscow, 9 in Yekaterinburg and five in Ufa. The company's revenue grew 28.1% in 2012 to 57 billion rubles. Nezavisimost's main shareholder is the group's founder Roman Chaikovsky with 50.05% of the company and A1 with 49.95%.