Detsky Mir beneficiaries sell stakes to consortium led by Korablik founder

MOSCOW. May 2 (Interfax) - Pavel Grachev and Mikhail Stiskin have sold their stakes in children's goods retailer Detsky Mir to a consortium of investors led by Alexey Zuev, the founder of the retailer Korablik, Detsky Mir said in a statenent.

Zuev and his investor consortium collectively hold 29.9% of the Detsky Mir share capital. Grachev and Stiskin no longer hold any economic interest in respect to the company.

The amount of the transaction and the other investors were not disclosed.

The incumbent chairman of the board of directors, Vladimir Klimanov, will not be nominated as a candidate for the board at 2023 annual general shareholders meeting.

Shareholders in Detsky Mir voted at an extraordinary meeting on December 29 to approve the company's transformation into a privately owned company the form of a spin-off of DM LLC as a subsidiary operating company. Detsky Mir bought back 3,211,864 shares with par value of 71.5 rubles each from shareholders dissenting against the reorganization of who abstained from voting. A total of 229.65 million rubles was allocated for the buyback.

Detsky Mir boosted net profit to Russian Accounting Standards 32.6% to 9.92 billion rubles in 2022. Sales revenue grew 5% to 178 billion rubles and gross profit 21.3% to 61 billion rubles.

Detsky Mir operated 1,086 stores as of December 31, 2022, including Detsky Mir, Zoozavr, and Detmir Mini.