Press releases

PPF Group and Igor Yakovlev executed transaction which led to PPF Group´s full control over Eldorado

8/22/2011

PPF Group and Igor Yakovlev, the Russian entrepreneur, announce that they settled the deal through which PPF Group has completed the full control over Eldorado, the retail chain distributing household appliances and consumer electronics. The parties agreed that Igor Yakovlev, the founder of the business, sells its remaining stake of 50% minus 1 share and PPF Group buys this stake. PPF Group acquired a controlling stake of 50% plus 1 share in Eldorado already in 2009.
PPF Group has already obtained the approval of the relevant Russian regulator, FAS, regarding the acquisition of Eldorado. The price of the recent transaction will not been disclosed.
Both parties expressed their satisfaction with the deal. “The consolidation of ownership in Eldorado has been one of our strategic priorities from the very beginning and today it creates the platform for PPF to be a significant player in the Russian retail market,' says Jiri Smejc, PPF Group´s shareholder.