Moscow, Russia- February 25, 2013 - Sistema JSFC ("Sistema", or the "Group" ) (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that the Board of Directors of SG-trans ("the Company"), which is 100% owned by Sistema, has approved the Company's reorganisation, which is intended to separate SG-trans' trading assets into a standalone business.
As part of the Company's reorganisation, all of SG-trans' trading assets will be transferred to SG-trading. These assets include SG-trans' real estate portfolio, its 64 gas stations and its 12 gas storage facilities. SG-trading will be 100% owned by Sistema and will continue to service all SG-trans contracts in relation to LPG trading and storage.
The reorganisation and separation of SG-trans and SG-trading is an important part of Sistema's strategy for the transportation sector, which is designed to enhance SG-trans' operational efficiency, to unlock potential value from trading assets and to open up various strategic opportunities for the gas storage and retail segment.