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Posted: Thu Jan 23, 2025 6:42 am
the EBITDA (E) of SDN-Video for 2022, adjusted for the amount of net debt (D). The parties agreed on the following formula for calculating the value of a 95% stake in SDN-Video: 6 x (ED) x 95%. Under the terms of the transaction, the first payment by VimpelCom was to be 80% of the agreed value. The second payment was to be made after the completion of the audit of SDN-Video for 2022.
but has data from the estonia whatsapp resource Federal Tax Service of the company "SDN-video" under RAS. Sovcombank recommends the following formula for calculating EBITDA: EBITDA = OP + AOS + ANMA, where OP is operating profit, AOS is depreciation of fixed assets, and ANMA is amortization of intangible assets. Based on the data from the reporting of "SDN-video" for 2022 under RAS, its OP amounted to RUB 376.6 million, AOS - RUB 108.167 million, and ANMA - RUB 41.046 million. Thus, the calculated EBITDA reached RUB 525.813 million.
The sum of long-term and short-term liabilities of SDN-Video by the end of 2022 is 211.102 million rubles. Thus, with such an assessment, the price of 95% of the company's authorized capital should have been almost 1.794 billion rubles - that is, twice as much as the amount of the deal announced by the Chinese side in January.
A source close to VimpelCom told ComNews that the deal was delayed due to the lengthy process of obtaining approval from the subcommittee of the government commission for control over foreign investment in the Russian Federation. This subcommittee, headed by Russian Finance Minister Anton Siluanov, was created in March 2022 and is empowered "to make decisions on issuing permits by a higher government commission for residents to carry out transactions with foreign entities of unfriendly states, as well as currency transactions."
FG Finam analyst Leonid Delitsyn suggested what could have been the reason for the transaction being postponed for six months and what its amount was: "The transaction for the sale of 88% of the shares of the company SDN-video can be estimated at 1.1 billion rubles. Usually such transactions take a long time due to the need for careful study (due diligence) by the buyer. They can be announced in advance. For example, if the buyer is not against acquiring someone else, and the seller does not rule out that he could sell it to someone else for more."
but has data from the estonia whatsapp resource Federal Tax Service of the company "SDN-video" under RAS. Sovcombank recommends the following formula for calculating EBITDA: EBITDA = OP + AOS + ANMA, where OP is operating profit, AOS is depreciation of fixed assets, and ANMA is amortization of intangible assets. Based on the data from the reporting of "SDN-video" for 2022 under RAS, its OP amounted to RUB 376.6 million, AOS - RUB 108.167 million, and ANMA - RUB 41.046 million. Thus, the calculated EBITDA reached RUB 525.813 million.
The sum of long-term and short-term liabilities of SDN-Video by the end of 2022 is 211.102 million rubles. Thus, with such an assessment, the price of 95% of the company's authorized capital should have been almost 1.794 billion rubles - that is, twice as much as the amount of the deal announced by the Chinese side in January.
A source close to VimpelCom told ComNews that the deal was delayed due to the lengthy process of obtaining approval from the subcommittee of the government commission for control over foreign investment in the Russian Federation. This subcommittee, headed by Russian Finance Minister Anton Siluanov, was created in March 2022 and is empowered "to make decisions on issuing permits by a higher government commission for residents to carry out transactions with foreign entities of unfriendly states, as well as currency transactions."
FG Finam analyst Leonid Delitsyn suggested what could have been the reason for the transaction being postponed for six months and what its amount was: "The transaction for the sale of 88% of the shares of the company SDN-video can be estimated at 1.1 billion rubles. Usually such transactions take a long time due to the need for careful study (due diligence) by the buyer. They can be announced in advance. For example, if the buyer is not against acquiring someone else, and the seller does not rule out that he could sell it to someone else for more."