The shareholders of Megafon approved the purchase of control in Mail.ru from Usmanov's USM

The operator will pay $740 million for 63.8% of the voting shares of Mail.Ru Group, of which $640 million at the time of closing, and another $100 million a year later.
24.01.2017
Forbes
Origin source
The shareholders of Mefagon at an extraordinary meeting on January 20 approved the acquisition of 15.2% of the capital of Mail.Ru Group (63,8% of voting shares) from USM Group owned by the billionaire Alisher Usmanov and his partners, which is the controlling shareholder of the mobile operator. This is stated in the Megafon's report, published on Monday, 23 January.

209,293,635 shareholders voted affirmatively. 10,765,598 votes were against the deal. Abstentions: 176,500 votes.

It is about the acquisition of 11.5 million Class A shares and 21.9 million common shares in the capital of Mail.Ru Group Limited. Now they belong to the New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, within the USM group, and constitute 63.8% of the voting shares of Mail.Ru Group.

Mefagon is going to buy them for $ 740 million at the close of the deal, he will pay $ 640 million a year -. Another $ 100 million Mefagon is going to pay for a package of its own funds and borrowed funds for the transaction is not planning to bring.. The transaction is expected to close in the first quarter of 2017.

"After completion of the transaction," Mefagon and Mail.Ru will continue to operate fully on market conditions", - stressed earlier in Mefagon. The company argued that the purpose of the transaction - to expand the range and ways to promote digital services Mefagon VKmobile run a special application for users of social network "VKontakte" and "other possible initiatives," the report said.

Financial consultant Mefagon made Morgan Stanley, legal - Cleary Gottlieb Steen & Hamilton LLP. Conclusion on price fairness engaged Bank of America Merrill Lynch, which has become a financial advisor Special Committee of the operator, and White & Sase is acting as legal advisor committee.

On the possible conclusion of the transaction in mid-November RNS reported, citing sources in the investment business. The agency then indicated that the deal could not be made without the consent of the Swedish group Telia.

The main shareholder of Mefagon Usmanov is the USM (56.32% stake). Telia Company Group owns 25.17% of Mefagon. 3.92% of the company belongs to the "daughter" of "Megaphone» - Megafon Investments. And 14.59% of the shares are in free float.

Included USM company New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited are the package sellers in 63.8% of the voting shares in Mail.Ru Group. South African Naspers through MIH owns 12.5% of the voting shares of Mail.Ru Group. China Tencent - 3,3%). Other shareholders 20.4%.