Eldorado remaining shares sold for USD250 million
Russia-based electronics retailer Eldorado’s remaining shares of 50% minus one share have been acquired by the Czech PPF Group for USD250 million, Retail.ru reports. Czech PPF Group has been Eldorado’s major shareholder since December 2010 when it acquired a 50% plus one share stake in the company. In September 2011 the Group acquired the remaining shares of Eldorado but at that time the parties did not disclose the cost of the transaction.
“100% consolidated ownership of Eldorado has been our strategic priority since the beginning of our investment in the company, and in line with PPF Group’s strategy to become a significant player on the Russian retail market,” Irji Smejc, a shareholder in PPF Group, said in August.
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