Alexey Tulupov’s Sminex group, specializing in high-budget housing construction in Moscow, has agreed to buy the development business of the Ingrad company. He writes about this RBC Quote from two sources familiar with the situation.
The estimated transaction amount could be 35-40 billion rubles. A credit line for its conclusion will be provided by Sberbank. Ingrad and Sminex declined to comment.
Ingrad is among the top 20 developers in Russia with a current construction volume of 712 thousand square meters. m. The company’s total portfolio, including completed projects, exceeds 2.5 million m2. m. A controlling stake in Ingrad belongs to the Rossium concern of Roman Avdeev and Sergei Sudarikov.
According to experts, the aim of the deal for Sminex could be portfolio diversification. The new owner will most likely focus on business class and higher projects and try to resell non-core assets.
According to IFRS, in 2023 Ingrad’s revenue will decrease by 24% compared to the previous year, to 63.4 billion rubles, and net profit will decrease by 19%, to 785 million rubles.
Last week it became known that German defence was worrying Rheinmetall. It was announced It concerns the purchase of the American company Loc Performance Products for $950 million. This transaction will allow Rheinmetall to strengthen its position in the US defense market and expand the production of ground vehicles for the military.
Previously Paramount encountered There are difficulties in selling the company.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.