Safmar’s acquisition of Eldorado, the second largest retailer of consumer electronics in Russia

PPF Group N.V. and EMMA Capital announce that they have sold 100% of the shares of the Eldorado retail chain to a group of Russian investors related to the Safmar financial & investment group.

Eldorado, Russia’s second-biggest white goods retailer behind, had sales of 92 billion roubles ($1.5 billion) in the first nine months of 2016.

PPF Group has owned Eldorado, one of Russia’s largest electronics retail chains, since 2008; EMMA Capital has owned shares in Eldorado since 2014. Under PPF Group and EMMA Capital’s ownership, the company has been transformed into a multi-channel retailer, offering a wide range of household goods, and one of Russia’s leading online retailers.

The acquisition of the respective rights by Eldorado’s new owners was approved by the Russian Federation’s antitrust authority, FAS. Both parties have agreed that the price of the transaction will not be disclosed.

Clifford Chance has advised PPF Group and Emma Capital on the deal with a Prague-based team led by the office’s managing partner Alex Cook (picture), primarily supported by senior associate Michal Jašek as executive lawyer, and further assisted by associates Jakub Veselý, Jan Strnad and Veronika Kinclová.

Involved fees earner: Alex Cook – Clifford Chance; Michal Jašek – Clifford Chance; Jakub Veselý – Clifford Chance; Veronika Kinclová – Clifford Chance; Jan Strnad – Clifford Chance;

Law Firms: Clifford Chance;

Clients: PPF Group;

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