OREANDA-NEWS. July 21, 2014. Sistema JSFC ("Sistema") (LSE: SSA) the largest publicly-traded diversified holding company in Russia and the CIS, announces that, its 100% owned subsidiary, Sistema Finance OJSC, agreed to acquire 162,837,500 of Sistema's ordinary shares for approximately RUB 7.6 billion, which became binding following the expiration of the seller's termination right.

The acquisition is being conducted as a block trade from a non-affiliated seller and represents 1.7% of Sistema's issued share capital.

The shares are being purchased for general corporate purposes. As a result of the transaction, Sistema Group's holding of treasury shares will be 4.53% of Sistema's total issued capital.