Mail.Ru Group sold HeadHunter for 10 billion rubles
Today Mail.ru Group Limited announced the sale of a service for posting vacancies and resumes HeadHunter, the company published this information on the website of the London Stock Exchange (LSE). The sum of the sale of HeadHunter to a consortium of investors led by Elbrus Capital, which previously acted as one of the buyers, amounted to 10 billion rubles. The first Mail.Ru Group was going to sell HeadHunter to a consortium in 2014, but at that time it did not have the amount needed for the acquisition.
The reason for the transaction is already reflected in the financial results of Mail.Ru Group - excluding the results of HeadHunter, the company's segment revenue in 2015 increased by 11% to 36.316 billion rubles compared to the same period last year, and with HeadHunter results this figure is already 10% - 39.343 billion rubles. In terms of net profit and EBITDA, indicators, taking into account the results of HeadHunter, are likewise reduced by an average of 1%.
After the sale of HeadHunter, the company plans to send the funds received from the transaction to pay off Gazprombank’s debt, which as of December 31, 2015 amounted to 6.9 billion rubles. Initially, the debt to the bank amounted to 22.2 billion rubles, after processing the loan for the absorption of "VKontakte".
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“The amount will be paid in two tranches by the end of April 2016. As of December 31, 2015, net debt (excluding HeadHunter) amounted to 6,888 million rubles, and by the end of April 2016, the balance of funds in accounts would exceed loan debt, ”said Dmitry Grishin in a company report .
Initially, representatives of Mail.Ru Group declared their desire to sell HeadHunter due to the lack of similar projects in the group. And now the company is trying to sell non-core assets, as stated by Dmitry Grishin, general director of the Mail.Ru Group.
Initially, a package of 24.5% of the shares of HeadHunter was bought by Digital Sky Technologies for $ 15 million while evaluating the service at $ 61.2 million. In 2008, DST acquired an additional 12% for $ 11 million, and after a year 56.61% for $ 37.5 million After the placement of DST shares on the London Stock Exchange, the company was renamed the Mail.ru Group, and in 2012 the group brought its share in HeadHunter to 100%.
The reason for the transaction is already reflected in the financial results of Mail.Ru Group - excluding the results of HeadHunter, the company's segment revenue in 2015 increased by 11% to 36.316 billion rubles compared to the same period last year, and with HeadHunter results this figure is already 10% - 39.343 billion rubles. In terms of net profit and EBITDA, indicators, taking into account the results of HeadHunter, are likewise reduced by an average of 1%.
After the sale of HeadHunter, the company plans to send the funds received from the transaction to pay off Gazprombank’s debt, which as of December 31, 2015 amounted to 6.9 billion rubles. Initially, the debt to the bank amounted to 22.2 billion rubles, after processing the loan for the absorption of "VKontakte".
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“The amount will be paid in two tranches by the end of April 2016. As of December 31, 2015, net debt (excluding HeadHunter) amounted to 6,888 million rubles, and by the end of April 2016, the balance of funds in accounts would exceed loan debt, ”said Dmitry Grishin in a company report .
Initially, representatives of Mail.Ru Group declared their desire to sell HeadHunter due to the lack of similar projects in the group. And now the company is trying to sell non-core assets, as stated by Dmitry Grishin, general director of the Mail.Ru Group.
Initially, a package of 24.5% of the shares of HeadHunter was bought by Digital Sky Technologies for $ 15 million while evaluating the service at $ 61.2 million. In 2008, DST acquired an additional 12% for $ 11 million, and after a year 56.61% for $ 37.5 million After the placement of DST shares on the London Stock Exchange, the company was renamed the Mail.ru Group, and in 2012 the group brought its share in HeadHunter to 100%.
Source: https://habr.com/ru/post/298950/
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