Announced
Completed
Financials
Tags
Real Estate Holding and Development
Private
residential real estate
real estate developer
Russian Federation
Acquisition
Completed
Single Bidder
Friendly
Majority
Private Equity
Synopsis
Etalon, one of Russia's largest and longest-established development and construction companies, completed the acquisition of the remaining 49% of Leader-Invest, one of Moscow's largest residential developers, from Sistema, a publicly traded diversified Russian holding company, for $228m. "Leader-Invest delivered impressive growth in its 2Q 2019 operational results thanks to the successful completion of nearly all integration processes. These strong results, combined with Etalon Group's solid cash position, meant that we were able to propose the buyout of the remaining 49% of Leader-Invest to the Board of Directors, which unanimously supported the transaction," Gennadiy Shcherbina, Etalon Group Chief Executive Officer.
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