PRESS: Holders decide to merge coupon services Biglion, Frendi

MOSCOW, Apr 6 (PRIME) -- Russia’s biggest coupon service Biglion will stay under control of its co-founder Vladimir Vinogradov, investment company ru-Net of Leonid Boguslavsky and the U.S.’ Tiger Global, and it will be merged with rival resource Frendi, earlier known as Groupon Russia, business daily Kommersant reported on Thursday.

Vinogradov said a conflict in Biglion, sparked up in 2015, “was settled several weeks ago.” The businessman with ru-Net and Tiger Global earlier owned 66.6% of Biglion. The new ownership structure was not disclosed.

The dispute arose when Vinogradov suggested closing a part of the service’s directions, but the initiative was opposed by Biglion’s co-founder Oleg Savtsov, owning with his spouse 33.4% of the business.

The Savtsovs were said to be later involved in other projects, including Internet store Costmart and coupon service Kupanda. A source familiar with the situation said Savtsov had withdrawn from Biglion’s capital.

Biglion will be merged with Frendi, which was purchased by ru-Net in 2016 from international company Groupon.

“We don’t disclose the amount of the deal. We could only say that the business has generated a loss and accumulated debts,” Vinogradov said, adding that Biglion, on the contrary, is a profitable company, whose turnover exceeded 3 billion rubles in 2016, up 23% on the year.

(55.8940 rubles – U.S. $1)

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