Photo: Evgeny Odinokov / RIA Novosti
The Federal Antimonopoly service (FAS) has approved a deal to buy Russian retailer M. Video shops MediaMarkt in Russia. It is reported TASS with reference to the representative office.
In the FAS noted that the deal will not lead to restriction of competition on the market and will attract new investment in the sector and will contribute to the development of the network.
That group Safmar, which owns a network “M. Video” and “Eldorado” will buy Russian stores MediaMarkt, the German Ceconomy became known on June 20. At the same time a German company will acquire 15% in “M. Video”. The total amount of the transaction based on the value of the Russian units MediaMarkt 470 million dollars.
The combined company “M. Video” and “Eldorado”, according to its own data, is now 25.9 percent of the market of household appliances and electronics in Russia, and the MediaMarkt — 3.3 percent.
Video, photo All from Russia.