MOSCOW, August 31. /TASS/. M. Video retailer closed the deal on acquisition of Russian business of Germany’s Media Markt, the company said on Friday.
Media Markt Saturn purchased 15% of M.Video shares from Safmar in the course of the deal and M.Video-Eldorado group acquired 100% participation in Media-Saturn-Russland, the Russian business of Media Markt Saturn.
M.Video will manage 42 Media Markt stores in 22 Russian cities as a result of the deal. The group plans to open on these sites about 60 stores under M.Video-Eldorado brands, depending on location, competitive environment and the consumer audience. Some stores will be open this year and the others in the second half of 2019.
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