CTC Media has named the date of withdrawal from the NASDAQ stock exchange

The American company CTC Media Inc. provides a business reorganization to may 20, the report said CTC Media. On this day, the company will complete a merger with its subsidiary and finally go with the NASDAQ, all traded on the paper market CTC Media will be void. Shareholders of the company will be entitled to a refund, they will be paid at $2,05 per share, and total payments would amount to $239 million, says CTC Media.

The appeal will remain only 25% of the shares held by Telcrest Cyprus related to the Bank “Russia” Yuri Kovalchuk and partners, — this package is “frozen” because of the sanctions imposed by the USA against the shareholders of the Bank. Telcrest will become the sole shareholder of CTC Media, which will remain 25% of the Russian media holding “STS Media”, bringing together TV channels STS, “house”, “Che” and CTC Love.

In September 2015, CTC Media announced the sale of 75% of the operating business of the holding YUTV Alisher Usmanov and Ivan Tavrin. The transaction was closed in December, it allowed “CTC Media” to meet the new requirements of the law “On mass media”, which from 2016, prohibits foreigners from owning more than 20% in the founder of any Russian media.

Up to this point, almost 38.6% of “CTC Media CTC Media Inc through. owned by Swedish Modern Times Group (MTG), 36,07% of the shares were traded on NASDAQ, the remaining 25,4% were in Telcrest. The amount of the transaction is approximately $200 million.