World News: 12:32 GMT Monday 11th February 2019. [EQS Group via SPi World News]
MAGNIT PJSC (MGNT)
Press Release | Krasnodar | February 11, 2019
PJSC 'Magnit' Announces the Acquisition of Shares by JSC 'Tander'
Krasnodar, Russia (February 11, 2019): Magnit PJSC (MOEX and LSE: MGNT; Issuer; Company; Group), one of Russia's leading retailers, announces the acquisition of shares by the entity under its control (JSC 'Tander').
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Public Joint Stock Company 'Magnit' is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2018, Magnit operated 37 distribution centers and 18,399 stores (13,427 convenience, 467 supermarkets and 4,505 drogerie stores) in 2,976 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2018, Magnit had revenues of RUB 1,237 billion and an EBITDA of RUB 90 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB.
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