Monopoly buys out 6.5% of Globaltruck shares in free float for 314 mln rubles
MOSCOW. April 21 (Interfax) - The Monopoly transport group bought out 6.5% of the shares of Globaltruck, which are in free circulation, according to a joint press release from the companies.
Applications for the sale of shares were accepted from April 7 to 18. The redemption price was 82.5 rubles per share. "As part of the program, Monopoly Group acquired 3,804,240 ordinary shares of PJSC GTM, which is 6.5% of the company's charter capital," the press release said.
The cost of the Globaltruck package acquired by the group totaled nearly 314 million rubles.
In early April, Monopoly announced its intention to buy out a 75% stake in Globaltruck at a price of 82.5 rubles per share with a premium to the market of about 9% at the time of the announcement.
Globaltruck is one of the leading road freight FTL carriers in Russia, and 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, as well as the GT-2 digital platform that connects carriers and cargo owners. The company 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 remaining shareholders previously owned 19.6%.
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 carrier into their group.
"The acquisition of the Globaltruck business accelerates the implementation of our strategy and strengthens our market positions," said Ilya Dmitriev, Chairman of the Board of Directors of Monopoly, in a joint 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.
In the event of the transaction's successful completion, it is planned to delist GTM securities from the Moscow Exchange.