7 Apr 2023 14:34

Monopoly Group to buy 75% of Globaltruck at 82.50 rubles/share

MOSCOW. April 7 (Interfax) - Transportation and logistics group Monopoly is offering to buy 75% of shares in Russia's only public trucking company, Globaltruck (PJSC Globaltruck Management (GTM) ) for 82.50 rubles per share, the companies said in a joint press release.

Applications for the sale of shares in free circulation are being accepted from April 7 to April 18 inclusive and will be redeemed on April 20 if their total volume is a minimum of 6 million shares.

"The purchase price is fixed and the same for all groups of selling shareholders, including the majority shareholder, and amounts to 82.50 rubles per common share in PJSC GTM," the companies said.

"The offered price is based on a valuation of the company at 4.82 billion rubles and implies a premium of 8.8% to the closing price on the Moscow Exchange on Thursday, April 6 (75.80 rubles per share), and a premium of 37.0% to the weighted average prices over six months (60.20 rubles per share)," the statement said.

Monopoly Group intends to acquire 75% (at least 43.85 million shares) of Globaltruck. In the event of the successful completion of the transaction, GTM shares are to be delisted from the Moscow Exchange.

The shareholders of Monopoly plan to maintain the current volume of business and the number of staff of Globaltruck with the gradual integration of the latter into the group.

"The acquisition of GTM's business accelerates the implementation of our strategy and strengthens our market positions," Ilya Dmitriev, Chairman of the Board of Directors of Monopoly, said in a press release.

"I have always believed and stated that consolidation in the trucking market is inevitable. The planned transaction is a clear confirmation of this thesis," Alexander Eliseev, founder and head of the Board of Directors of Globaltruck, commented on the transaction.

Globaltruck is one of the leading road freight FTL carriers in Russia, one of the five largest freight carriers in terms of revenue and number of transport units. The company has 1,300 tractors and 1,500 semi-trailers, and the GT-2 digital platform that connects carriers and cargo owners. The carrier serves nearly one thousand customers, including the largest players in the retail, FMCG, e-commerce and parcel delivery segments, as well as Russian industrial holdings. Controlled by Globaltruck founder Alexander Eliseev, Cypriot GT Globaltruck Ltd owns 61% of the group's capital, RDIF and co-investors own 19.4%, and other shareholders 19.6%.

Monopoly is a transport and logistics group, which includes the Monopoly.Online digital platform. The company was founded in 2006 and is headquartered in St. Petersburg. The activity of the group is aimed at consolidating the cargo transportation market in the digital environment and providing participants with equal access to resources through the Monopoly.Online platform. The company is owned by the Cypriot Glazifer Limited controlled by the head of its board of directors Ilya Dmitriev and the group's CEO Ekaterina Mikhailova, as well as Acmero Capital, by Siman Povarenkin and Baring Vostok.