ALROSA Supervisory Board approves purchase of office building for United Selling Organization ALROSA

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Moscow, February 15, 2019 – The Supervisory Board of PJSC ALROSA accepted the expediency of purchasing a multifunctional office complex on Sevastopolsky Avenue in Moscow to house the Company’s affiliate―the United Selling Organization ALROSA. The Supervisory Board adopted a relevant resolution at a meeting in absentia on Wednesday, February 13.

The 22-story building is located at the address: building 1, 28, Sevastopolsky Avenue, Moscow. Its total floor space is over 29 thousand square meters. It is planned that part of the premises will be taken on lease by the Unified Complex of Customs Clearance and State Control of Export and Import Operations with Precious Stones and Metals.

ALROSA will take on lease the land plot of about 0.75 ha where the office building is located. By the decision of the Supervisory Board, the aggregate cost of purchase and lease should not exceed $ 52.7 million (net of VAT). There are also plans regarding the lease of three adjacent land plots with the total area of almost 0.8 ha.

“We started the search for office premises for the USO ALROSA back in 2015. However, the affiliate is still leasing the premises in the building on 1812 year street―mainly from the Gokhran of Russia. This year, the lease agreement expires, and it has been a long time since we had planned a major overhaul of the building. What is more, the available premises are not enough and it limits the development of our affiliate,” says the Head of ALROSA Administrative Department Sergey Slobodin. “The Company is considering several variants of office premises for the USO, but the priority one is the complex on Sevastopolsky Avenue. The resolution passed by the Supervisory Board will allow us to move the negotiations on the acquisition of the building into the closing stage.”

According to Evgeny Agureev, Director of the USO ALROSA and member of ALROSA Executive Committee, moving to the new building will significantly improve the quality of work with the Company’s clients, create modern and comfortable working conditions for employees and specialists, and effectively build logistics and organize internal business processes. “It will be a long-awaited event for both the USO ALROSA and the Company,” noted Evgeny Agureev.

This page was last updated on 15 February 2019 at 17.00