Ceconomy's Media-Saturn in Talks to Sell Russian MediaMarkt Business
15 6월 2018 - 2:21AM
Dow Jones News
By Anthony Shevlin
Ceconomy AG (CEC.XE) said Thursday its major holding
Media-Saturn is in advanced discussions with SAFMAR Financial
Investments (SFIN.MZ) regarding a possible sale of its loss-making
Russian MediaMarkt business.
The German company said the transaction would eliminate the
operative losses of Media-Saturn's Russian business and would be
consistent with Ceconomy's strategy.
Ceconomy said Media-Saturn would pay around 258 million euros
($303.5 million) for a 15% stake in SAFMAR's M.Video (MVID.MZ)
business, a Russian consumer-electronics retailer.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
June 14, 2018 13:06 ET (17:06 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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