OREANDA-NEWS. Strategic Investors, Alexander Mamut and Sergey Gordeev, Close Transactions to Purchase 16.02% and 19.9% Shares in PIK Group Respectively.

Otkritie Capital has acted as an advisor for these transactions. The sellers were Suleyman Kerimov Foundation entities.

Nikita Ryauzov, Managing Director of Otkritie Capital: “PIK Group is an attractive investment. It shows fast growth and its management is highly skilled. Due to these two facts, the group has overcome the 2008 crisis, has had good growth dynamics, successfully launched an SPO at the London Stock Exchange in June 2013, and has become a leader in its segment. I am convinced that these transactions will give a new impetus to the company's development.”

Overview of New PIK Group Shareholders

The new strategic shareholders of PIK Group have significant experience in the field of real estate.

Alexander Mamut has been engaged in urban planning for many years and has for a long time chaired the Board of Directors at MLPI, a leader in the Russian industrial and warehouse real estate market.

Sergey Gordeev has considerable experience in implementing real estate projects, not only as an investor - he has has a wealth of construction experience. His successfully completed construction and renovation projects include the Gamma Business Centre, Burevestnik, Avio, Krugozor, Luch, Vodnyi Stadion, Stanislavski Factory Business Centre, and Oasis premium-class Business Centre.

Established in 1994, PIK Group has become a leading Russian public developer of large-scale residential projects in Moscow, the Moscow Region, and other Russian regions. The Group's key business is the construction and sale of affordable residential premises, predominantly in the house-building industry. Since the very beginning, PIK Group has constructed more than 13 million square meters of residential real estate (more than 220,000 apartments), including 1.3 million square meters (more than 20,000 apartments) in 2012. For 9M 2013, its earnings from sales of residential real estate increased by 35% compared to the last year and net cash inflow grew by 26%.