June 13, 2017 / 8:55 AM / 2 months ago

BRIEF-Otkritie to announce tender offer for QIWI at $28/share

June 13 (Reuters) - OTKRITIE HOLDING:

* SAID ON SATURDAY THAT OTKRITIE HOLDING AND OTKRITIE HOLDING INVESTMENTS CYPRUS LIMITED PLAN TO ANNOUNCE A TENDER OFFER FOR UP TO 24,794,253 CLASS B SHARES OF QIWI PLC AT A PRICE OF $28 PER SHARE

* THE OFFER INCLUDES CLASS B SHARES REPRESENTED BY AMERICAN DEPOSITARY SHARES (ADS) OF QIWI

* OTKRITIE HOLDING TOGETHER WITH ITS AFFILIATES, CURRENTLY HOLDS ABOUT 8.85 PERCENT OF QIWI'S SHARES AND PLANS TO RAISE ITS STAKE TO ABOUT 63.85 PERCENT

* THE OFFER PRICE REPRESENTS A 19 PERCENT PREMIUM OVER QIWI'S CLOSING PRICE OF $23.53 PER SHARE ON JUNE 9

* THE TENDER OFFER WILL BE OPEN TO ALL HOLDERS OF THE CLASS B SHARES, INCLUDING CLASS B SHARES REPRESENTED BY ADSS

* "WE AIM TO FURTHER OUR INVESTMENTS IN THE FINTECH DOMAIN ... THUS WE ANNOUNCE OUR INTENTION TO COMMENCE THE TENDER OFFER TO PURCHASE UP TO AN ADDITIONAL 45-55% OF CLASS B SHARES AND ADSS IN QIWI", ALEXEY KARAKHAN, THE CEO AND CHAIRMAN OF THE MANAGEMENT BOARD OF OTKRITIE HOLDING SAID

* OTKRITIE HAS INITIATED DISCUSSIONS AND IS CONSIDERING AN OPPORTUNITY TO COOPERATE WITH SALDIVAR INVESTMENTS LIMITED, THE CONTROLLING SHAREHOLDER OF QIWI, AND SERGEY SOLONIN, THE CONTROLLING SHAREHOLDER OF SALDIVAR AND CHIEF EXECUTIVE OFFICER OF QIWI

* THE DISCUSSIONS ARE PRELIMINARY ONLY AND THERE ARE NO AGREEMENTS OR UNDERSTANDINGS, WRITTEN OR ORAL, BETWEEN THE PARTIES

* OTKRITIE EXPECTS THE ADSS TO REMAIN LISTED ON NASDAQ FOLLOWING COMPLETION OF THE OFFER

Source text - bit.ly/2s5utQL

Further company coverage: (Gdynia Newsroom)

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