Lenta to Acquire Utkonos to Become One of Russia’s Leading E-grocery Platforms

Lenta IPJSC (LSE: LNTA, MOEX: LNTA and LENT), one of the largest multi-format retail chains in Russia, today announces an agreement to acquire online-retailer Utkonos to create a leading e-grocery platform covering all key shopping missions and market segments. The sale is structured as the purchase of the entire participation interest of LLC “Noviy Impuls-50” from Severgroup LLC (in such capacity, the “Seller”). The base purchase price for the transaction is RUB 20 billion, which will be financed by an additional issuance of Lenta’s shares to be placed by closed subscription to Severgroup, in which other shareholders may participate by exercising preemptive rights to acquire additional shares, with Severgroup committing to pay into the share capital of Lenta IPJSC the amount of RUB 20 billion.    

Lenta appoints Vladimir Sorokin as its new Chief Executive Officer
Lenta (LSE and MOEX: LNTA), one of Russia’s leading food retailers, announces the appointment of Vladimir Sorokin as its new CEO, replacing Herman Tinga. The appointment of Mr. Sorokin as the new CEO is effective as of September 3rd, 2020. He will also replace Herman Tinga on the Board of Directors of Lenta. Herman Tinga will continue to work with Lenta as a consultant.