OREANDA-NEWS. Sistema JSFC (“Sistema”) (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that it has acquired 49% of the ordinary shares of CJSC Business Nedvizhimost (“Business Nedvizhimost” or the “Company”) from CJSC MGTS-Nedvizhimost, for RUB 3.1 billion. As a result, Sistema now owns 100% of the company.

Business Nedvizhimost was established in September 2013, following the separation from CJSC MGTS-Nedvizhimost during its reorganisation. The Company's main areas of operation are property management and leasing.

Business Nedvizhimost owns 76 real estate sites located across Moscow which cover a total area of approximately 178,000 square metres and were used by MGTS as automatic telephone stations (ATS) prior to the implementation of GPON (Gigabit-capable Passive Optical Network) technology.

The value of the stake was based upon an independent appraisal prepared by the company called American Appraisal.