Sberbank initiates the sale of the Metric hypermarket, located at 53, Pulkovo Highway, for debts

On 23rd of December at the Lot-online electronic trading facility an auction will be held for the sale of the Rights (Claims) on credits issued by Sberbank to the Stroyformat Open Joint Stock Company.
A total amount of the debt of the Stroyformat to Sberbank – 713.8 million rubles.

A security for the issued credit is the major building material hypermarket of the Metric store chain, located at 53, Pulkovo Highway, owned by the Megalit Company.

The asset pledged characteristics:
2-storey building of the Metric building material hypermarket with an area of 14.4 thousand sq. m with three land plots with the areas of 4.9 ha, 4.7 ha, 0.2 ha respectively.

The debentures will be sold at Dutch auction (auction with the price decreasing).
The bidding will start with the price – 650 million rubles.
Minimum sale price – 463 million rubles.

Concurrently, the starting price of the hypermarket, set for the auction, scheduled on 5th of September, was 800 million rubles.
So, the future investors have a possibility to buy the asset with 337 million rubles discount.

For reference:
The first bidding for the sale of the Metric, located at 53, Pulkovo Highway, were initiated by the Owner – CJSC Megalit.
A consist of the assets offered for sale was identical to those, which are now the security under the credit agreement with Sberbank. The property was divided into two lots, their total starting price was 800 million rubles.
The biddings were cancelled on the initiative of Sberbank.

For detailed information about the Object of sale please see the website of the Auction House of the Russian Federation (the AHRF)