Roustam Tariko encumbered Green Mark and other vodka brands to the creditors

As RBC found out, all alcoholic brands owned by Roustam Tariko, except for Russian Standard: Green Mark, Parliament, Zhuravli and others, have been encumbered to bondholders due in April 2018.
16.09.2015
RBC
Origin source
And brands and plants

Information about the fact that all vodka brands Rustam Tariq, except for the "Russian Standard", located in the pledge, contained in the databases of Rospatent. The materials of the brand registration is noted that the rights to the brand, owned by Roust (head of division in the holding Vodka Tariq), were pledged British TFM Trustee October 9, 2014.

TFM Trustee acts as trustee to the holders of bonds Roust. Deposit issued before April 30, 2018 - the date of maturity bonds.

Vice President Roust Igor Kosarev confirmed RBC that brands pledged, adding that it was a condition of the creditors in the reorganization of the Polish company of CEDC, absorbed by the "Russian Standard" in 2013 (see. Certificate). The fact that the marks were pledged almost a year after the transaction, Kosarev called "technical point", without explaining its meaning.

As Tariq brands collected

Company of CEDC, whose headquarters was located in Warsaw, in 2008-2010 began buying alcoholic assets in the Russian market: it was acquired by the company "RusENGLISH alcohol "(brand" Green Mark "," Cranes ")," Parliament "(brand" Parliament "), for the production of low-alcohol cocktails plant" Bravo Premium "distribution company Whitehall. For all purchases, the company spent more than $ 1.2 billion; means for CEDC expansion occupied by a bond.

By 2011 th CEDC operations became unprofitable and the company began searching for an investor. That same year, the owner of "Russian standard" Rustam Tariq became the largest shareholder of CEDC, bought 19.5% of the company.

When CEDC has recognized that it can not pay back the money to the holders of bonds maturing in 2013, Tariq proposed rescue plan, supported by the creditors in total. CEDC bondholders totaling $ 1.2 billion exchanged for a new issue of bonds - Roust company - for $ 650 million (of the debt has been repaid) maturing in 2018. Later CEDC was declared bankrupt, has gone from the stock exchange and was poured into Roust structure.

Roust Statements for the second quarter of 2015 confirms that almost all of its alcoholic brands are pledged: appear in the list of pledged Russia "Green Mark" (see the FAQ.), & Laquo; the Parliament "," Talca "," Yamskaya "," Cranes "," Maroussia ", the Kauffman, Polish Soplica, Zubrowka, Absolwent, Hungarian Royal.

In addition, it is noted that the provision of loans is most factories Roust - four companies of the five Russian ( "Topaz" in Moscow, Siberian distillery in Novosibirsk, "The first blending Distillery" in Tula and "Central Russian distillery" in Moscow is not incorporated St. Petersburg plant "Russian standard") and two Polish (in Bialystok and Oborniki). in addition to these production sites in Roust there is an Italian manufacturer of sparkling wines Gancia, which is not incorporated.

Tariq has combined all of its assets in a single alcoholic International Holding - Roust - in October, 2014. The only exception - the brand "Russian Standard": it is not included in Roust statements because the company has not yet completed the process of consolidation, he explained Kosarev.

According to the Federal State Statistics Service, in January-July of 2015 Roust plants in Russia collectively released 2371.5 thous. Decalitres of vodka, which is 7.25% of the total volume of Russian vodka production. According to the first reports onhalf of the year 2015 of net revenues, excluding excise payments amounted to $ 244.1 million, a net loss of - $ 34.6 million (a loss in the same period of 2014 - $ 48.5 million).

The famous "Green Mark"

Vodka "Green Mark" was created in 2002 by Vadim Kasyanov, who started its production at the plant "Topaz", belonging to the group "Industrial Investors" Sergei Generalov. The first sales of the new vodka were so good that Generals Kasyanov appointed marketing director of "Russian Alcohol", which were merged his alcoholic assets, and started to invest in brand promotion playing on the nostalgic feelings of consumers.

According to Rosstat, in 2005, "Green Mark" was the best-selling vodka brand in Russia, with sales of 4.5 million decaliters. In 2009, vodka sales have exceeded 10 million has given, and the "Green Mark" was the second in terms of implementation of the vodka brand in the world after Smirnoff.

But since the "Green Mark" is losing ground: according to Drinks International, 3,78 million has been sold in 2014 gave - this is the worst Rezatat for the brand over the past 10 years. Leadership has been lost even in the Russian market, where the "Green Mark" ahead "Belenky" and "Five Lakes".

The deposit will not take

Reported data Roust, intangible assets of the company are valued above material: the cost of plants, land and equipment is defined in $ 107.5 million, excluding depreciation, the total cost of trademarks (excluding the "Russian Standard") - to $ 194.8 million.

The total debt burden Roust at the end of the second quarter was $ 908.8 million Most of the payments -. $ 705.8 million - accounts for 2018, when the company will have to pay off bondholders.

Pledge of trademarks - a rare practice for the alcohol market in Russia. "We never laid trademarks and similar cases in the market, I do not remember", - told RBC representative Siberian Alcohol Group (ASG) Denis Borovik.

The largest transaction for the purchase of vodka brands

Absolut


In March 2008, the French company Pernod Ricard bought the Swedish government's 100% stake in CompResearch Institute of Vin & Spirit, owned vodka brand Absolut. Absolut Vodka is produced in Sweden since 1879. Import of vodka under this brand name outside the Nordic countries began a century later - in 1979. The company Pernod Ricard at the time the transaction was looking for a strong vodka brand that could compete with Smirnoff company Diageo. The priority for the French option was to buy Stolichnaya brand in SPI Group Yuri Scheffler, but in the end the choice fell on Absolut - at SPI Group while going litigation with the Russian government on the legality of the sale of Soviet vodka brand private foreign companies. I paid $ 5.63 billion For Absolut Pernod Ricard

Grey Goose

Grey Goose Vodka invented in 1996 by American businessman Sidney Frank. His idea was to make a super-premium vodka brand, comparable in price with the brandy. To this end, he signed a contract for the production of a new product in France in the Cognac region. Aggressive marketing has led to success - a new product has been well received in the US market and has attracted the attention of large companies. In August 2004, Frank sold Grey Goose Company Bacardi for $ 2.2 billion.

"In Russia, the brand is rarely considered as collateral for loans, although Europe and the US it is the usual story - agrees chairman of the" Synergy "Alexander Mechetin. - They understand that the most valuable asset that companies have alcohol - is not land or factory equipment, and trademarks, without which the company's work does not make sense. "

In Russia, the acquisition of alcoholic brands are isolated, and therefore to evaluate the value of the stamps is quite difficult. In 2011, ASG acquired the Rostov company "Regatta" brand "White Birch", the deal was estimated to range from $ 30 to 50 million: owner LRA Alexander Archer confirmed this newspaper "Kommersant".

The most expensive alcohol brands in the world is Johnnie Walker, is estimated at $ 5.6 billion.

And the bank, too

The pledge creditors may be half of the banking business and Rustam Tariq. In September 2015, the businessman decided to lay 49% of the bank "Russian Standard" holders of Eurobonds for $ 550 million, if they agree to a restructuring. speechchildren on two issues of subordinated Eurobonds Bank: papers for $ 350 million with a coupon of 13% and maturing in April 2020 and the issue of $ 200 million with a coupon of 11.5% and maturing in January 2024; now they are trading at 15-25% of face value.

Bank Offer provides for the payment to the holders of Eurobonds to 10% of the nominal value of securities and accrued interest in cash and issue through a special purpose entity (SPV), belonging to Tariq, the new Eurobonds with a maturity of seven years.

Debt Holders "Russian Standard" should take a decision on the proposal of the bank to the creditors' meeting to be held in mid-October. In addition, the proposed restructuring plan must be approved by the decision of the High Court in London and approved by the Bank of Russia.