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Ozon attracts interest from Amazon, SoftBank: ceo
Posted on Monday, 29 June 2020 11:33
Sistema has received approaches from two major global corporations over a possible acquisition of its online retailer Ozon, Reuters reported.
Citing the chief executive of the Russian holding company, the news provider said both Amazon and SoftBank have lodged their interest in the business.
In comments made to reporters following the firm’s annual general meeting, Vladimir Evtushenkov said the level of interest in Ozon from foreign investors is very high and explicitly named as Amazon and SoftBank as to of those who had looked at the business.
However, it is not clear whether talks are still taking place and whether such a deal would still be a possibility.
Sistema currently owns over 40.0 per cent of Ozon and has previously said it is on the lookout for partners to invest in the company.
Early this month, Reuters cited four people in the know as saying that Sberbank Rossii was in discussions to pick up a larger stake in the firm.
A spokesman for the company would not comment any further on the matter.
Since the beginning of 2020, there have been 123 deals targeting electronic shopping and mail order houses companies announced worldwide, according to Zephyr, the M&A database published by Bureau van Dijk.
Of these, the largest is valued at USD 1.86 billion and also involved Amazon as Jeff Bezos sold stock amount to an unspecified stake in early February.
The second-placed deal involved Chinos Holdings, the parent company of J Crew Group, converting debt to equity in order to pay off its creditors. The transaction is valued at USD 1.65 billion.
Other companies in the sector to have been targeted since the beginning of this year include Zalando, HelloFresh and Secoo Holding.
© Zephus Ltd