russia ppf buys out eldorado
Last Updated : GMT 01:55:14
Arab Today, arab today
Arab Today, arab today

Russia: PPF buys out Eldorado

Arab Today, arab today

Arab Today, arab today Russia: PPF buys out Eldorado

Moscow - Arabstoday

Czech group, PPF, has completely bought out Russian household appliances and electronics retailer, Eldorado, with no price officially disclosed, but Russian daily, Kommersant citing a figure of $625 million, referring to sources. PPF Group and Igor Yakovlev, the Russian entrepreneur, announce that they settled the deal through which PPF Grouphas completed the full control overEldorado, the retail chain distributing household appliances and consumer electronics. The parties agreed that Igor Yakovlev, the founder of the business, sells its remaining stake of50% minus 1 share and PPF Group buys this stake. PPF Group acquired a controlling stake of 50% plus 1 share in Eldorado already in 2009. Key PPF shareholder Jiri Smejc, says the attraction of buying out Yakovlev’s stake stems from increasing exposure to Russian consumers, and leveraging its existing position in the Russian market. “The consolidation of ownership in Eldorado has been one of our strategic priorities from the very beginning and today it creates the platform for PPF to be a significant player in the Russian retail market.” The company added that the buyout had already been approved by Russia’s Federal Antimonopoly Service.PPF Group became a creditor of Eldorado in September 2008, when it allowed the Russian retailer $500 million to pay its outstanding debts to Russian banks and recover supplies. A 51% stake in Eldorado became collateral then, with the Czech Group also getting the opportunity to buy a majority stake in the future. Later in 2009 PPF together with the Italian insurance Group Generali agreed to convert a part of Eldorado’s debt, $300 million of the $500 million, into a controlling stake in Eldorado, as well as taking a stake in Yakovlev’s personal development projects – Advantage Group and Real Estate Development, according to Kommersant. In December 2010 the Czech Group bought out 10% of Eldorado from Generali for €46 million, consolidating a 50% +1 share stake in the Russian retailer.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia ppf buys out eldorado russia ppf buys out eldorado

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia ppf buys out eldorado russia ppf buys out eldorado

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday