Samolet Group Public Joint Stock Company (MISX:SMLT) signed an agreement to acquire MIC Group on June 20, 2023. The deal will include all of MIC Group?s existing business: projects under construction and future projects, including land plots in the Moscow region, as well as all tangible and intangible assets, including all management companies, networks and headworks for the construction and operation of residential complexes and intellectual property rights. Under the terms of the agreement, Samolet Group will acquire the more than 50 companies that make up MIC Group as well as the Group?s land bank in Moscow, New Moscow and the Moscow region, including 11 projects at the construction and design stage.

Samolet Group will use bank financing to complete the transaction, with payments to be made in several tranches. The conclusion of the deal is pending regulatory approval from the Federal Antimonopoly Service. B1 group (formerly EY) performed independent legal, financial and tax due diligence, as well as to provide advisory services to Samolet.

As of October 25, 2023, VTB financed the transaction and issued a loan of RUB 45.6 billion to the Samolet.