Source: Safmar Group may merge Russia’s Eldorado, Technosila

MOSCOW, Dec 9 (PRIME) -- Financial group Safmar, formerly known as BIN Group, is studying a merger of Russia’s two large household appliances and electronic goods retailers Eldorado and Technosila, a source familiar with the group’s plans, told PRIME on Friday.

Earlier on Friday, Eldorado said in a statement that Czech financial and investment company PPF Group and EMMA Capital have sold the retailer to Safmar.

The source said that the goal of investment into Eldorado is to diversify the group’s business. “The deal will provide synergy with the logistics direction of the group and the real estate business,” the person said.

“Taking into account that the group has become more active in the IT sphere, the deal may become a promising site for dynamic development of the direction, including in the sphere of retail sales through the Internet,” he said, adding that Safmar is also studying other retail assets.

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