The Board of Directors “the Magnet” have considered the purchase of a pharmaceutical distributor “SIA Group” and considered the preliminary terms of the deal... “The magnet” continues to explore the possibility of acquiring “SIA Group”

The Board of Directors “the Magnet” have considered the purchase of a pharmaceutical distributor “SIA Group” and considered the preliminary terms of the deal inadequate. This is stated in the materials of the company. The deal will be finalized, said, “PV”, the General Director “SIA Group” Sergey Piven.

What are planning to learn the management of “Magnet”, not reported. In the Marathon Group argue that a full analysis and audit “SIA Group” the financial condition of a distributor is well known to the management of “Magnet”, now the retailer wants to also study the conditions and terms of integration.

It is possible that the reluctance of the Board of Directors to hurry up related to the statement of one of minority shareholders “the Magnet” – Рrosperity Capital Management – about buying the “SIA Group”. “We are deeply concerned about this development and the fact that it is a transaction with related parties (the owner of “SIA Group” Marathon Group owns 11,82% “Magnet”) makes us worry the most. We plan to address this issue, the independent members of the Board of Directors “the Magnet” and hope that the Council will take informed and responsible decision,” said minority shareholder at the beginning of June 2018

According to Рrosperity, no need to buy a wholesale seller, to bear his expenses, to hire staff and to transfer the risks of non-payment from other pharmacies.

In the end, the Board of Directors recommended that the management “to engage an investment Bank to study the optimal strategy for the improvement of logistic infrastructure in order to identify any asset and conditions, and then present a proposal to the Council.”

In the Marathon Group, the “PV” explained that the intention to sell “SIA Group” is retained.

“Magnit” has begun negotiations with the Marathon Group on the acquisition of the “SIA Group” on 6 June 2018 Thus, the retailer confirmed its plans for expansion in the pharmaceutical market. “Pilot project on establishment of pharmacies has demonstrated good results. Pharmacy can Potentially be integrated into a significant part of the cosmetic stores, convenience stores and hypermarkets, retail chain “Magnit”, which the company estimates will allow in the shortest time and with little capital cost to create a vast network of pharmacies”, – said the “Magnet”.

According to HeadHunter, “Magnet” preparing for an active opening of pharmacies. Since mid-July, the retailer began to search for pharmacists, pharmacists, pharmacy managers. to work in towns and top managers for management of the regional network in the Tambov, Ulyanovsk, Kemerovo, Novgorod, Sverdlovsk, Voronezh and Khanty-Mansiysk Autonomous Okrug, and Tver, Astrakhan, Nalchik, Vladimir, Ryazan, Kemerovo and Vorkuta.

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