OREANDA-NEWS. OJSC "Magnit", Russia's largest retailer (the "Company", the "Issuer", MICEX and LSE: MGNT), announces the acquisition of shares by the entity which is under the Issuer's control.

Full company name and address:

joint-stock company "Tander" 185, Levanevskogo street, Krasnodar, Russia

Taxpayer Id Number:

2310031475

Principal State Registration Number:

1022301598549

Object of acquisition:

voting shares of the Issuer

Date of acquisition:

March 11, 2014

Amount of acquired shares:

50,500 shares (0.053404% of the total equity)

Basis for acquisition:

Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange

Amount of votes before acquisition:

226,767 votes (0.239809% of the total number of votes)

Amount of votes after acquisition:

277,267 votes (0.293214% of the total number of votes)

Magnit is Russia's largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of USD 18,202 million USD and an EBITDA of USD 2,032 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is now Europe's 2nd largest retailer.