April 17, 2013 19:57
UCP closes deal to buy 48% of Vkontakte from Mirilashvili, Leviev (Part 3)
MOSCOW. April 17 (Interfax) - United Capital Partners (UCP), an investment fund controlled by Ilya Scherbovich, has bought 48% of the social networking site Vkontakte from its co-founder Vyacheslav Mirilashvili and CFO Lev Leviev, UCP told Interfax.
The Mirilashvili family owned around 40% and Leviev 8% of Vkontakte.
The cost of the deal was nit disclosed.
The networking site's owners valued the site ay $2.75 billion in the context of negotiations with Mail.ru. Analysts valued Vkontakte at $2 billion.
On that basis the purchase of the 48% could have set UCP back $0.96 billion-$1.32 billion.
Mirilashvili and Leviev will have to make an offer to current shareholders before selling their stakes in Vkontakte. A source close to the network's shareholders told Interfax that an offer had not yet been made.
Mail.ru Group owns 39.9% of Vkontakte. (Alisher Usmanov's USM Holdings owns 17.9% issued shares and 58.1% voting shares in Mail.ru.) The head of Vkontakte, Pavel Durov, owns 12%. Mirilashvili and Leviev own the rest of the social networking site.
Mail.ru, then USM expressed an interest in increasing their stake in Vkontakte, but the sides could not agree on a price.
USM Advisors told Interfax that Mirilashvili and Leviev had not made an offer to buy the company out, USM declined further comment. "We don't comment on the sale of other people's property," it said.
The head of USM Advisors, Vladimir Streshinsky, said UCP did not act on behalf of USM. He said USM was still interested in acquiring a stake in Vkontakte. Asked whether USM was currently in talks, he said: "No."
USM Group placed 7.4% of Mail.ru Group's shares in February and raised $532 million. Analysts said at the time that the group probably needed cash to buy shares in Vkontakte. USM officially said only that the purpose of the sale was to return some of the investment in Mail.ru.
Vkontakte is Russia's biggest networking site with more than 42 million active users. LLC V Kontakte is wholly owned by Cyprus-based VK.Com Holdings Ltd., according to the SPARK-Interfax database. Its revenue to Russian Accounting Standards (RAS) grew 41.7% in 2011 to 3.29 billion rubles and net profit 13.9% to 516.5 million rubles.
(Our editorial staff can be reached at firstname.lastname@example.org)
May 25, 2017
MegaFon might pay out 32.25 rubles/share for 2016
Russia secures right to export fish to Brazil, seeking permission to ship grain
MegaFon Q1 revenue up 14.7% with Mail.ru, down 0.8% without
Rostec, CBR to share information on cyber attacks, countermeasures
Ministry warns against illusions about long-term growth of air travel in Russia
Ministers of 26 countries, heads of 250 major companies to attend SPIEF - St. Pete governor
MEGAFON EXPECTS OIBDA, WITHOUT MAIL.RU, OF 112 BLN-118 BLN RUBLES IN 2017 - COMPANY
MEGAFON'S NEW DIVIDEND POLICY CALLS FOR PAYING OUT AT LEAST 70% OF FCF, NOT INCLUDING MAIL.RU RESULTS - COMPANY
MEGAFON, WITHOUT MAIL.RU, SEES REVENUE SLUMP 0.8% TO 74.49 BLN RUBLES IN Q1, BELOW FORECAST
MEGAFON MIGHT PAY OUT 32.25 RUBLES/SHARE FOR 2016 - COMPANY
MEGAFON, WITH MAIL.RU, UPS REVENUE TO 86.25 BLN RUBLES IN Q1 FROM 75.15 BLN RUBLES PRO FORMA A YEAR EARLIER
Moscow press review for May 25, 2017
Russia-U.S. business dialogue to take place on SPIEF sidelines on June 2 after 3-year pause - St. Pete governor