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Condition of "Sea Launch" purchase.

Shareholders of RSC “Energia” have approved intercreditor agreement between affiliates of corporation before execution of transaction on sale of “Sea Launch” project to S 7 Group. This agreement is one of conditions for closing of the transaction.
“RSC “Energia” finishes the transaction on alienation of assets of SRC “Sea Launch” with S 7 Group. It assumes commission of some legal actions about which Parties have agreed. One of such actions (a necessary condition) for closing of the transaction is the conclusion of the intercreditor agreement (between organizations) affiliated with RSC “Energia” about conditions of foreign companies (which was the Owners of alienated assets) obligations settlement”, presenters of corporation have said.  

They also have noted that it is necessary to provide continuity on operation of “Sea Launch” complex and to create conditions for its full use (for new owners). 148 098 votes have been given for the transaction, against - 30 456 voices, 1 200 thousand voices have refrained.

At the end of September, 2016 S 7 Group declared signing of the contract with Sea Launch Group of companies, providing purchase of complex "Sea Launch". Subjects of the transaction was Sea Launch Commander ship, “Odyssey” platform with the equipment of rocket segment installed on them, the land equipment in Home Port (Long Beach, USA) and all intellectual rights belonging to “Sea Launch” company including the trademark.. "Purchase cost of assets of “Sea Launch” complex is 6.28 billion rubles", it is noted in the document.

"The transaction purpose is the avoidance of bankruptcy of the debtor (Sea Launch SA), ensuring transaction of purchase and sale of the assets of “Sea Launch” complex belonging to the debtor is able serviceable for the intended purpose to the person capable to continue such exploitation and also partial meeting requirements of creditors", it is noted in the document.

The cost size of the transaction is no more than 15 billion rubles and it is determined as the general size of the obligations of “Sea Launch” Company to creditors repaid because of transaction. At first, from the arrived money “Sea Launch SA” Company as the debtor pays debts to the external creditors who aren't affiliated with RSC “Energia”. In the second turn, the sums on payment of liquidating expenses of the debtor and “Energia Logistics Ltd” are provided and keep (no more than $1.3 million for “Energia Logistics Ltd” and no more than $1 million for “Sea Launch SA”). In the rest, money is distributed between creditors in proportion to the sizes of obligations of the debtor as partial execution of his obligations to creditors; it is specified in the message.
Condition of "Sea Launch" purchase.