MOSCOW, Dec 30 (Reuters) – Russia’s largest children’s toy retailer Detsky Mir (DSKY.MM) on Friday said its shareholders had agreed to restructure the business in the form of a spin-off, as part of a reorganisation that could see the company become private.
Detsky Mir’s free float exceeds 50%, according to Refinitiv data, and counts a host of Western funds and banks among its shareholders.
The company’s restructuring could set a precedent that other Russian firms with a large portion of foreign investors may seek to copy, as Western sanctions and Russian counter-measures have effectively frozen access to certain holdings.
Detsky Mir said 97.91% of votes cast by more than half its shareholders were in favour of the reorganisation. Turnou…
Read the full article at: https://www.reuters.com/business/retail-consumer/shareholders-russian-toy-retailer-detsky-mir-agree-plan-take-firm-private-2022-12-30/