PIK Group mandates Sberbank


 

TIDMPIK TIDM73DK 
 
RNS Number : 0909Q 
PIK Group 
03 April 2009 
 

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND NOT FOR 
PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN THE UNITED 
STATES OF AMERICA 
 
 
PIK GROUP ("PIK" or "the Company") 
 
 
PIK Group mandates Sberbank for restructuring the debt portfolio 
 
 
 
 
(LONDON, 3 April 2009) - PIK Group (LSE: PIK), one of Russia's leading 
residential real estate developers, today announces that it has exclusively 
mandated "Sberbank Capital", an investment arm of Sberbank, for restructuring 
the Company's debt portfolio. 
 
 
As per management accounts on 03 April 2009 total debt amounted to approximately 
RR 44.8 billion. Major creditors to PIK Group include Sberbank, Vnesheconombank 
(VEB), VTB, Rosbank, Absolutbank and Promsvyzbank. 
 
 
 
 
Enquiries: 
+-----------------------+------------------------+ 
| Investors             |                        | 
+-----------------------+------------------------+ 
| PIK Group             | Tel: +7 495 505 97 33  | 
|                       | ext. 1358              | 
+-----------------------+------------------------+ 
| Viktor Szalkay        |                        | 
+-----------------------+------------------------+ 
|                       |                        | 
+-----------------------+------------------------+ 
| Media                 |                        | 
+-----------------------+------------------------+ 
| PIK Group             | Tel: +7 495 505 97 33  | 
+-----------------------+------------------------+ 
| Natalia Konovalova    |                        | 
+-----------------------+------------------------+ 
|                       |                        | 
+-----------------------+------------------------+ 
| Citigate Dewe         | Tel: +44 20 7638 9571  | 
| Rogerson              |                        | 
+-----------------------+------------------------+ 
| Tom Baldock           |                        | 
+-----------------------+------------------------+ 
| Lindsay Noton         |                        | 
+-----------------------+------------------------+ 
 
 
Some of the information in this press release may contain projections or other 
forward-looking statements regarding future events or the future financial 
performance of PIK. You can identify forward-looking statements by terms such as 
"expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" 
or "might" the negative of such terms or other similar expressions. These 
statements are only predictions and actual events or results may differ 
materially. PIK does not intend to or undertake any obligation to update these 
statements to reflect events and circumstances occurring after the date hereof 
or to reflect the occurrence of unanticipated events. Many factors could cause 
the actual results to differ materially from those contained in PIK's 
projections or forward-looking statements, including, among others, general 
economic conditions, PIK's competitive environment, risks associated with 
operating in Russia, rapid technological and market change, and other factors 
specifically related to PIK and its operations. 
 
 
-END- 
 
 
NOTES TO EDITORS 
PIK Group Overview 
Founded in 1994, PIK is one of the leading Russian residential developers. Its 
business activities are concentrated in Moscow and the Moscow region and PIK`s 
rapidly develops projects in other 10 Russia's regions. Its principal activity 
is the development, construction and sale of residential properties in large 
scale developments targeted primarily at the middle income housing market in 
Russia. 
Since 2004 PIK has built more than 4 million and 800 thousand square metres of 
residential properties (more than 58 000 apartments) in Russia, including more 
that 1,5 million square metres (more than 23 000 apartments) in 2007 and more 
that 800 thousand square metres (more than 12 000 apartments) in 2008. 
June 1, 2007, the Group completed successful listings on the London Stock 
Exchange, the RTS and MICEX exchanges in Russia. 
PIK Group's website address is:  www.pik.ru 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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