Gordeyev sold the largest developer in Russia to PIK

PIK Group buys Sergey Gordeev's Morton GC. Gordeev bought Morton in September this year. The sum was never announced, though. 
Origin source
PIK Group purchases GC "Morton" in Horus Real Estate Sergey Gordeev and integrates the company into the structure of the PIC, said in a press release received by RBC.

In September this year Gordeev bought a group of "Morton". The amount of the transaction had not called. "The amount and other parameters of the deal were not disclosed, but I am satisfied with the agreements reached", - he said at the time Gordeyev. And I stress that this "strategic investment", which is financed entirely out of their own funds without attracting loans.

The deal announced himself Gordeyev at a news conference. "The purpose of the transaction - the creation of the leader of the market turnover of 180 billion rubles.", - He said, noting that the Board of Directors of PIK "unconditionally" approved the transaction. Other details, such as amount of the transaction, the shareholder is not reported. According to Gordeyev, the brand "Morton" will not be saved, and it is planned to develop new projects under the brand PIK Group.

The subject of the transaction and the PIK Group of Companies "Morton" perform all of the assets of the latter, acquired earlier this year Gordeyev as a private investment, highlighted in the press release. Company Horus Real Estate Fund I BV, belonging to Gordeyev, sells an asset at a purchase price.

The press release also notes that as a result of combining the assets, production capacity and functional departments of the two companies under the PIK brand in the domestic construction industry will create a leading company on a national scale. According to management, to the 2017-2018 years of the group's revenue will reach 190 billion rubles, the sales volume will be approximately 1.8 million square feet. per year. The combined land bank at the same time to reach 10 million square meters. m, and high-tech manufacturing capacity will exceed 1.5 million square meters. m.

The transaction is expected to be closed after the approval of the Federal Antimonopoly Service and the completion of all legal procedures before the end of this year, according to a press release. The amount and other parameters will be revealed "in addition, in accordance with the requirements of the regulator on the disclosure of material facts public companies."

All declared and implemented now plans "Morton" GK construction will be completed within a specified time, obligations to customers will also be made in paragrapholnom volume, the document says.