UPDATE 2: Russias Safmar group to buy 57.7% in M.Video - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE 2: Russias Safmar group to buy 57.7% in M.Video

(Adds details in last paragraph)

MOSCOW, Dec 14 (PRIME) -- Financial group Safmar, previously known as BIN Group, plans to buy an investment company of household appliances and electronic goods retailer M.Video founders Alexander and Mikhail Tynkovan and Pavel Breyev, which owns 57.7% in M.Video, the retailers shareholders said in a statement on Wednesday.

Under the agreement, BIN Group will buy M.Video shares at U.S. $7 apiece. The companies have also agreed that Safmar will make a voluntary offering to purchase shares from M.Videos minority owners at the price of the major deal, the statement read.

M.Video will continue working as usual, all managers will keep their posts before and after the deal is closed, the statement added.

According to the Moscow Exchange, M.Video jumped 12.7% to 414 rubles after the deals announcement.

A representative of the Federal Antimonopoly Service told PRIME that the service has not yet received a request to approve the deal from Safmar, which manages assets of the GutseriyevShishkhanov family.

But a source close to the deal told PRIME that Safmar filed the request to the service earlier on Wednesday.

(61.0690 rubles U.S. $1)

End

14.12.2016 14:17
 
 
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