Krasnodar, 23 March – Yug Times. Although the main vectors of Magnit’s development strategy are to be identified and approved at the nearest session of the company’s Board of Directors scheduled on 19 April, the investors of the biggest national retailer seem not to be fully resigned to Sergei Galitsky’s leaving the CEO post.
The news that the application of VTB Infrastructural Investments Ltd. about the purchase of the 29.1% share of Magnit JSC [owned by Galitsky] was satisfied was announced on 13 March, despite the fact that practically the purchase had been approved a week before. Hence, the transaction became legally finalized.
The new owners of the company plan to unite its car park, logistic and payment systems with Russian Post, another partial asset of VTB.
“We are planning quite a serious logistical synergy — we have 17,000 vehicles, Magnit has 6,000 cars and trucks,” said Russian Post Director Nikolai Podguzov at a press conference 16 March, proving the owners’ intentions. “We will be using our [post] offices as Magnit’s points of sale.”
For the time being, the new owners abstain from comments, saying that Magnit has a significant development potential due to its unique logistic system and efficient business model.
“The VTB Group has a big experience of successful investments in the capital of Russian companies; in particular, solid experience in the retail sector,” states the official announcement displayed on the website of the new owner.
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