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Baring Vostok and Sistema Give RUB 10 bln Loan to Ozon, Russia’s Leading E-commerce Platform

29.04.2019

Baring Vostok Funds and PJSFC Sistema have provided a RUB 10 billion convertible loan to Ozon, Russia’s leading multi-category online sales platform.

Baring Vostok and Sistema are Ozon's largest shareholders, and have given the online retailer a convertible loan that will provide funding to aggressively grow Ozon’s market share, in line with the new strategy announced in 2018. Ozon plans to use the funds to maintain its current growth rate and to develop its warehouse infrastructure, IT-platfrom, marketplace and financial services offerings. The convertible loan provided by Baring Vostok amounts to RUB 4.3 billion.

Ozon is Russia’s leading multi-category online sales platform. In 2018 Ozon’s revenue grew at a 10-year high of 73% year-on-year. As of year-end 2018, Ozon operated 8 fulfilment centres with a total area of 100,000 sq m, enabling the company to deliver next-day orders for 40% of Ozon’s customers. The Company plans to secure further growth and achieve market leadership by offering attractive prices as well as through infrastructure development, rapid expansion of assortment, and development of a marketplace.

Dmitry Kamensky, partner at Baring Vostok Capital Partners, said:

“Baring Vostok funds see significant potential in the development of e-commerce in Russia, and we are happy to be part of the rapid growth of Ozon, which is one of the leaders in the sector. We support the company’s management and their ambitious growth plans because we have confidence in the business model and the stregth of the Ozon brand. New investments will help Ozon to strengthen its leading positions in product assortment, logistics, customer service and its service ecosystem.”

About Baring Vostok

For 25 years Baring Vostok funds have been making a substantial contribution to Russia’s sustainable economic development by investing in leading Russian companies, many of which have taken top positions in their respective industries and have successfully entered international markets. In the last three years alone, Baring Vostok funds have invested more than USD 900 million into Russian companies and are continuing their activities at the present time.

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