The owner of the regional TV channels and radio stations Ivan Tavrin ready to invest in new mediamagnet. The entrepreneur is negotiating the purchase of the group Gallery, the second the revenue of the operator of outdoor advertising in Russia
(Photo: Ekaterina Kuzmina / RBC)
Player number two
Ivan Tavrin, a former business partner of Alisher Usmanov, agrees with Baring Vostok Capital Parnetrs about purchase from its funds the operator of outdoor advertising Gallery, told RBC three sources close to the seller and confirmed by two friends Tavrin. One of the interlocutors RBC clarifies that Tavrin is going to get at least 70% of the Gallery.
The representative of Baring Vostok declined to comment. The press service of the Gallery did not respond to a request. “We look at dozens of companies and never comment on these talks,” said RBC Tavrin.
Group Gallery, the second on the revenue of the operator of outdoor advertising Russ Outdoor after. According to the results of monitoring in the 50 largest cities, the research company “ESPAR-the Analyst” estimates are possible from rescue Russ Outdoor to 6.2 billion RUB without VAT, Gallery — 3.9 billion rubles, total expenditures on outdoor advertising in 33.8 billion rubles. Thus, the market share of Russ Outdoor is not less than 18%, the Gallery is 12%.
At the beginning of January 2018 at Russ Outdoor in 50 cities was 24.9 per thousand advertising surfaces a total area of 322 thousand sq. m, Gallery — 26.2 thousand surfaces with a total area of 233 thousand square meters (including about 7.5 thousand of bus pavilions “Mosgortrans” in the capital, which in may of this year, the Gallery ceased to advertise).
Gallery last disclosed financial figures for 2013: for the first nine months of the year with a record 132 million rubles in net profit on revenue of 4.6 billion rubles.
In the same year the band participated in the past in Moscow the auctions on outdoor advertising and are faced with financial problems. At the auction Gallery won 760 places for billboards, promising to list for them in the next ten years, 13.5 billion rubles For participation in the auctions, the group received a loan from Sberbank for RUB 1.5 billion at the end of 2014, the Gallery has breached one of the covenants on the loan, then the savings Bank has reduced the size of the credit line from 1.5 billion to 900 million rubles, and the maturity was postponed from 2019 to April 2015, then reported rating Agency Standard & Poor’s. It is pointed out that by the end of 2014 the debt Gallery has 21 times higher than its EBITDA, while in 2013 this ratio was only 2.5.
To help Gallery in 2015 came the part of its shareholders, which, as reported by the group in April of that year, repaid its debt to Sberbank. Then, as he wrote RBC, the structure of the owners of the Gallery: the structure of Baring Vostok increased its stake in the operator of outdoor advertising of 23.15% minimum to the control (the exact packet size is known). Remained at the time the owner of the group and one of its founders Anatoly Mostovoy. At the beginning of 2015, he belonged to 6.85% of the group.
Pavement RBC reported Monday, July 16, that a few years ago sold his stake Gallery and “more her fate is not interested.” Actually the share was sold to the former financial Director of the concern “Kalina” Alexander Petrov, claim two sources of RBC, but the Pavement did not confirm this information. Contact Petrov at the time of publication failed.
Sberbank is still the creditor Gallery, follows from the Uniform Federal register of important information about the facts of activity of legal persons. In particular, the mortgage Bank open in 2014 lines of credit are promissory notes of LLC “gelleri Service”, the main operating company of the group and of 100% shares of subsidiary LLC “didzhital gelleri”.
Ivan Tavrin has agreed with Sberbank the purchase of a majority stake Gallery, says one of the interlocutors RBC. The representative of Sberbank declined to comment.
The interlocutors of RBC in the absence of financial indicators is difficult to estimate the current value of the Gallery. In their opinion, the group is likely in the last two years unprofitable. The main reason for this high annual payments by the end of the capital’s auction in 2013. Their base size is almost 1.4 billion rubles a year, but the last time, in December 2017, the Gallery was listed only 772 million rubles — the amount may be reduced if the successful bidder failed through no fault of his reasons to set the design.
At Russ Outdoor, which in 2013 won the auction for RUB 27.2 billion, almost 2.2 thousand places under the boards and construction of small format, annual contributions to the budget of Moscow make up nearly a third of all revenues, indicates the latest available statements of the company for the year 2016. Then Russ Outdoor fixed 1.2 billion rubles of net loss on revenue of nearly 9 billion rubles In 2015, the market leader was forced to restructure the loan to your lender and major shareholder — VTB (state Bank owned 26.3% of Russ Outdoor).
Photo: Valentina Svistunova / inter / TASS
In order to reduce operating costs, owners of Russ Outdoor and Gallery wanted to unite the business, but against the merger, as he wrote RBC, speaks French JCDecaux, which owns 25% of Russ Outdoor.
Tavrin was negotiating with the owners of Russ Outdoor, say sources RBC, stating that in this case, in contrast to the Gallery is no agreement yet. RBC sent a request to Russ Outdoor.
Faith in the digital
Ivan Taurine is now a fully-owned television holding UTV, which operates the channels “u”, “Muz TV”, Disney and is the owner of 75% “STS Media” (STS, “Home”, “Che”, “CTC Love” and “CTC Kids”). Until December 2017 58,3% UTV had Alisher Usmanov, but the business partners went. According to sources close to Usmanov, he abandoned the television business, and Taurinus, in turn, lost his low three-percent stake in USM Holdings Ltd, the parent company for the assets of Usmanov. The representative of the USM refused to comment on this information.
Tavrin is also the main owner of the holding “Vyberi radio”, Manager 79 regional radio stations. Last year the businessman has bought a new station in Rostov-on-don, Nizhny Novgorod and Vologda, as to tell his friends, believes in this business: local radio stations less likely to compete with the Internet for the budgets of advertisers.
In outdoor advertising Tavrin attracted by the prospects of widespread digital formats, explain the sources of RBC. According to “ESPAR-analytic” at the end of 2017, the Gallery was 158 such structures, Russ Outdoor — 105. This “figure” has provided more than 22% of all possible revenue Gallery and 15% of Russ Outdoor.