18 Aug 2023 15:51

EMC shareholder Shilov takes ownership of former Lantmannen Unibake subsidiary in Russia

MOSCOW. Aug 18 (Interfax) - Igor Shilov, a shareholder of the European Medical Center (EMC), has become the owner of baking company Bagerstat (formerly Lantmannen Unibake), which belonged to European Lantmannen Unibake.

According to data from the Unified State Register of Legal Entities, starting on August 17, 99.99% of Bagerstat LLC belong to the company "Newest Technologies", whose beneficiary is Shilov (94.5%). He directly owns another 0.01% of the bakery.

Bagerstat LLC is located in the Egoryevsky district of the Moscow region. The company produces buns for burgers, hot dogs and sandwiches, croissants and Danish puff pastries for both catering and retail. The company's three production lines are designed to produce 25,500 tonnes of products per year.

The company's revenue in 2022 amounted to 2.6 billion rubles compared to 3.2 billion in the prior year, while net profit was 335.3 million rubles compared to 438.6 million, respectively.

New Technologies LLC (Novye Tekhnologii) was registered in March 2023. The second owner of the company (5.5%) is Andrei Yanovsky, whose Future Management LLC is the management company of EMC JSC.

In July this year, another company whose beneficiary at the time was also Shilov, New Technologies LLC, bought the Russian business of Essity, a Swedish company that produces hygiene products under the Zewa, Libero and Libress brands. The transaction amounted to SEK 1.2 billion ($117.3 million at the exchange rate at the time).

EMC is a network of private medical clinics. It includes 7 multidisciplinary medical centers, a maternity hospital and a rehabilitation center, as well as three geriatric centers in Moscow and the Moscow region. In July 2021, EMC conducted an IPO on the London and Moscow stock exchanges.

Shilov owns 55.11% of the parent company United Medical Group CY Plc, according to 2022 financial reporting.

On August 31, an extraordinary general meeting of EMC shareholders will be held on the redomiciliation of the company from Cyprus to the Oktyabrsky Island special economic zone in the Kaliningrad Region.

EMC JSC, which is the main operating company, is managed by Yanovsky's Future Management LLC.