Eldorado, the Russian electrical retailer, signs deal to give PPF majority control over the company

Czech financial services conglomerate PPF Group NV has won a deal to gain majority control of Eldorado, the Russian electrical retailer. The Independent On Sunday reported that Chief Executive Tomas Spurny said that PPF had agreed a USD500 million loan to Eldorado which, when converted, would give it majority control. "There is a great opportunity for us to help Eldorado grow," Spurny said. "I would like to double the number of stores to 1,000. By offering our consumer finance products in the Eldorado stores, we can see even greater growth for our credit business."

planetretail.net