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Detskiy Mir OAO transfers quasi-treasury shares to Aktsionernaya Finansovaya Korporatsiya Sistema OAO-Interfax

Tuesday, 12 Aug 2014 10:02pm EDT 

Detskiy Mir OAO:Shareholders at Detskiy Mir OAO have approved reorganization of the company through spin-off of DMF-Invest ZAO and merger of DMF-Invest ZAO with DM-Finans ZAO-Interfax.DM-Finans is wholly owned by Detskiy Mir OAO and holds 25 percent plus 1 share of the company.As a result of the reorganization, 100 percent stake in DM-Finans will be transferred to Aktsionernaya Finansovaya Korporatsiya Sistema OAO (AFK), a main shareholder of Detskiy Mir OAO.AFK and its subsidiaries will continue to own directly 554 million shares in Detskiy Mir OAO (74.9 percent of stake), and will get 185 million shares (25.05 percent) through DM-Finans.The reorganization is conducted to simplify Detskiy Mir OAO's legal structure, the company's representative said. 

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