Russian investor Igor Yakovlev and PPF Group have come to an agreement for Yakovlev to sell his remaining shares, 50% minus 1 share) to PPF Group. PPF Group purchased 50% plus 1 share of the Russian electronics chain in 2009. The purchase has already been approved by the Russian regulators.
Eldorado (www.eldorado.ru)
Eldorado was founded in 1994 and has emerged as a leading mid-priced consumer electronics store. The company currently has 700 stores in 450 different cities in Russia. The company has recently expanded its offerings to include Internet retailing.
PPF Group (www.ppf.cz/en/homepage.html)
PPF Group was founded 20 years ago by Petr Kellner, who remains a majority shareholder in the company. Based in the Czech Republic, PPF Group is one of the largest investment firms in Central Eastern Europe. The company currently manages over 12 billion Euros in assets. Investments cover all industries. Target investment areas are in CEE, Russia and parts of Asia. PFF specializes in investing in companies that they see have potential, even if other businesses find these investments risky.
25/08/2011
Central & Eastern Europe, Private Equity News, Retail Industry, Russia