Etalon Group completes acquisition of Leader-Invest
LONDON: Etalon Group Plc, one of Russia's largest and longest-established development and construction companies, announced that its subsidiary Etalon Group Company AO has completed the purchase of the remaining 49% of the share capital of Leader-Invest JSC from Sistema PJSFC, a publicly-traded diversified holding company for RUB 14.6 billion.
The Transaction was financed by an eight-year credit line provided by Sberbank.
Leader-Invest is one of the largest players on Moscow's residential development market by size of landbank and number of available-for-sale projects. It focuses primarily on infill development and large scale integrated urban development projects in the comfort, business and premium class segments.
Leader-Invest's project portfolio, including the recently consolidated ZIL-Yug project, consists of 31 projects currently at the construction and design stages, as well as unsold residential real estate at eight completed residential complexes and commercial real estate, with a total NSA of 1.9 million sqm. As of 31 December 2018, Leader-Invest's project portfolio, including the acquisition of LSR's stake in the ZIL-Yug project, was valued at RUB 86,266 million, according to Knight Frank.