"Eldorado" for sale
"Safmar 'Group (the former BIN) is negotiating the purchase retailer of household appliances and electronics (BTiE)" Eldorado ", the source told RBC in one of the investment funds. Paul Zun - representative of the co-owner "Eldorado" company Emma Capital (owns 20% of the "Eldorado") - told RBC that are conducted "multilateral" talks about the "Eldorado" for sale. Details of the transaction and the names of candidates he did not elaborate. The representative of the second co-owner of the company - the PPF Group - declined to comment and advised to contact Emma Capital. In "Safmar" group and the company "Eldorado" did not provide comment RBC. Director General of "Technosila" (owned by "Safmar") Ilya Timchenko refused to talk with RBC on this topic.
A source in the investment circles RBC confirmed that the family-Gutserievs Shishkhanov interested in buying "Eldorado", but noted that there are other contenders for the network.
According to the extract from the register in June 2016 OOO "Eldorado" was replaced by the owner. Previously, 100% company, etc.inadlezhala Cyprus Facipero Investments Limited, the parent company of which is the Dutch PPF Group BV June 20, 2016 the owner of 100% of OOO "Eldorado" has become Cyprus' Bovesto Limited ". Its owner is currently Facipero Investments Limited, beneficiaries - PPF Group NV and Emma Omega Ltd.
According to a senior partner of the Bar "Yukov and Partners" Irina Adamova, asset transfer to a subsidiary of the former parent company may indirectly indicate the presale. "In that case, if the current network owner really made a decision on its sale and conducts the appropriate negotiations, the release of the company from its business with the transfer to a separate offshore company looks like the most logical step to effectively structure a future deal, simply by selling the offshore future owner" - the expert believes.
"Eldorado" company 20% owned by the Czech company Emma Capital businessman Jiri Šmejc 80% - Czech investment group the PPF, the beneficiary of which is Peter Kellner. In addition to the shares in the "EldOradea "in Russia is the majority shareholder PPF Home Credit Bank with 88.62% of shares. In addition, the group includes the company PPF PPF Real Estate Holding BV, which manages its client and real estate in Russia, Germany, the Czech Republic, the Netherlands and several other European countries in the amount of € 1.9 billion of assets among the Russian -. Business center Comcity (185 thousand sq. m.), shopping and entertainment centers "M5 Mall Ryazan '(81.5 thousand sq. m.) and" Fair "(Astrakhan, 37.5 thousand sq. m.), warehouse complex" South gate "(550 thousand sq. m.) and 75% of the company" TGC-Trilodzht "managing logistics complex Trilogy Park Tomilino near Moscow (107 thousand sq. m.). The company is developing the project of a sports complex "Mitino Park." Also in conjunction with the American Hines company owns two towers of the business center "Metropolis" with a total area of 80 thousand sq. M. m.
According to Director General of «INFOLine-Analytics" Mikhail Burmistrov, the market value of the "Eldorado", taking into account the debt of 24-26 billion rubles. ($ 370-378 million). Excluding debt a company can cost anywhere from 35 billion to 48 billion rubles., Says managing partner Falcon Advisers Igor Kovanov investment company.
In 2013, for the purchase of "Eldorado" claimed the company "M.Video". In mid-July 2013 the transaction was approved by the Federal Antimonopoly Service. Then the regulator issued an order to close the stores one of the networks in 35 regions, including Moscow and the Moscow region, and to give the liberated area competitors. In August 2013, the representative of "M.Video" told "Vedomosti" that the companies could not agree on the essential parameters of the transaction. As a result, it has not been closed. In 2013, Mikhail Burmistrov evaluated "Vedomosti" cost "Eldorado" of 5-8 billion rubles. ($ 150-240 million) including debt (18 billion rubles. Excluding debt).
If "Safmar" agreed to buy the property owners "Eldorado", the outcome of the transaction can be the union of the network with "Technosila", says Igor forged and partner of Strategy Partners Vitaly Vavilov. "Technosila" appeared in the portfolio of assets Gutserievs - Shishkhanov at the end of 2015, when a group of BIN has closed a deal for the purchase of MDM Bank, koto ownersth owned 70% of the network. The year before, "Technosila" swallowed the oldest St. Petersburg retailer "Technoshock", becoming the tenth revenue vendor appliances and electronics in Russia and declared an ambition to break into the top-5.
"Shareholders" Safmar "used to be minority shareholders - Forged explains. - They are known consolidators: actively buying and real estate assets, and bank. It is obvious that they are interested in reteyle be one of the leaders of the market, so buying the "Eldorado", and then combining the company with the "Technosila" would be for them a logical step. "
Although, even combining sales by revenue, the combined company will give in "M.Video"; in the number of retail "Eldorado" points even without the "Technosila" is the largest Russian network for selling electronics and appliances. At the end of May 2016 at the "M.Video" it had 379 stores in 161 cities in Russia. The "Eldorado" - more than 600 stores in 200 cities of Russia, the "Technosila" - 85 shops and 133 point of issue in more than 80 cities of Russia.
Kohm of consolidation with "Technosila" would allow "Eldorado" to become a leader in the online sales market BTiE:. "In the first half of total Internet sales of" Eldorado "and" Technosila "would have amounted to 11 billion rubles, while sales of" M .Video "- 9.3 billion rubles", -. calculated Mikhail Burmistrov.
As a group of BIN Gutseriev and Shishkhanov buy assets
In December 2011, the Group acquired 100% of JSC "Hotel" National "and pay for the shares 4.67 billion rubles.
In April 2014 Mikail Shishkhanov purchased from the largest financial group in Norway DNB 100% shares of JSC "DNB Bank" (Murmansk). Terms of the transaction were not disclosed.
In April 2014 Binbank Moscomprivatbank bought on credit the Deposit Insurance Agency (DIA) in the amount of 12 billion rubles.
In December 2014 Binbank closed the acquisition of the five banking groups "Growth": Growth of the Bank, Bank "Kedr" Akkobanka, SKA-Bank and the Tver Universal Bank. Credit for the purchase in the amount of 35.9 billion rubles. DIA provided.
In March 2015 Binbank Uralprivatbank bought from companies affiliated with the former vladace banking group "Growth". The transaction amount was not disclosed.
June 24, 2015 Gutseriev family and Shishkhanov bought the ex-senator Vadim Moshkovich developer company "Augur Estate" and "A101 Development" owning 2.4 thousand. hectares of land in the village Kommunarka district in New Moscow. RBC source familiar with the negotiations, said that the deal is in the range of $ 1-4 billion.
In June 2015 BIN group bought the industrial park «PNK-Chekhov" - a complex of warehouse properties with a total area of 398 thousand sq. M. m. The deal was estimated at $ 220 million.
In July 2015 Binbanka shareholders bought 100% shares of the "Europlan" companies. Terms of the transaction were not disclosed.
In August 2015 BIN shareholders have entered into an agreement to acquire 100 per cent stake in Carcade leasing company in the Polish financial group Getin Holding. The transaction value is estimated at no more than 3 billion rubles.
In June 2015 Mikhail Shishkhanov and Mikhail Gutseriev signed an agreement to acquire a majority stake (58.33%) of MDM Bank Sergey Popov. The amount of the transaction could reach about 17 billionrub. Together with the bank BIN group got 70% of the retailer's "Technosila".
In December 2015 Shishkhanov Gutseriev and brought its stake to 84.38%. Currently BIN Group owns more than 98% stake in MDM Bank.
In December 2015 a group of BIN became the owner of Sheraton Palace on Tverskaya street. The transaction amount was not disclosed, but is estimated by experts at $ 100 million.
Sales on the Internet for BTiE segment companies today are the most important business drivers: they grow faster than sales offline. Thus, in "M.Video" in the first half of 2016 sales increased by 19% compared with the first half of 2015, while sales online rose by 34%. "El Dorado" in the first half sales growth reported back about 25%, online - 56%. "Online segment for several years now developing faster than offline sales, - says Director of Public Relations Association of trading companies and manufacturers of consumer electronic and computer equipment (RATEK) Anton Guskov. - This is a very convenient channel from the point of view of audience reach and time savings. In humans, therethe ability to compare items on different sites and choose the best offer. " Many retailers are now BTiE rely on omni-channel - the simultaneous use of oflayn- and online communication channels, Andrei adds: "This synergy is most effective in terms of the company's sales."
It is possible that the association with "Technosila" help "El Dorado" in the future overtake "M.Video" Sales and offline, which in turn will enable the company to bargain with suppliers for the best price conditions, says Kovanov. "In the negotiations it is important to be a player" number one ", it makes equipment manufacturers to be more flexible," - he explains. Candy CEO Anton Harin says it is "Eldorado" and so get good discounts from the producers and the union with "Technosila" unlikely to significantly change the situation for the combined company. However, for "Technosila" association will become the absolute advantage and allow to bargain for better conditions, said Kovanov. Now discounts for large federal companies andfor smaller players in the market can differ by several percentage points, which is quite significant, concludes Harin.
Consolidation "Technosila" add "Eldorado" is not more than 15% of the cost, and the combined company will be worth 28-30 billion rubles., Calculated Burmistrov. However Kovanov doubt that "Safmar" will sell assets, "the company's shareholders to buy a lot, but little to sell. And to find a buyer for the asset is not as easy, though theoretically they might be interested in some investment funds. "
Top 5 of the largest transactions in the reteyla market for ten years
In 2006, the retail chain "Pyaterochka" bought "Crossroads" for $ 1,365 million. As a result of the transaction, both the business moved to a public company Perekriostok Holdings NV balance of the second stage of the deal, "Alfa Group" has bought 14.5 million shares of the combined company's shareholders "Pyaterochka "for $ 1.2 billion. As a result, 54% of the common stock holders received a" Crossroads "," Alfa Group "and the company's top managers, 21.2% went to the founders of" Pyaterochka ", 24.8% of the shares were in free drawnenii. The new company is called X5 Retail Group.
In 2010, X5 Retail Group has acquired the head of FC "Uralsib" Nikolai Tsvetkov retailer's "Kopeika" for $ 1.6 billion.
In 2011, "Dixie" has bought from businessmen Nikolay Vlasenko, Alexander Zaribko Vladimir Katzman trading network "Victoria". The deal amounted to 25.6 billion rubles. taking into account the financial debt.
In 2011, the shareholders of "Lenta" August Meyer, Dmitry Kostygin, Sergei Yushchenko and Gleb Ognyannikov sold 44% of the retail network "Lenta" private equity fund of TPG, the European Bank for Reconstruction and Development (EBRD) and "VTB Capital" for $ 1.1 billion. As a result of TPG deal, "VTB Capital" and the EBRD have received about 85% of shares of "belts", the remaining shares were from minority shareholders.
At the end of 2012 "MegaFon" and the main shareholder of the operator holding Garsdale, closed a deal to buy 50% of "Euroset" the businessman Alexander Mamut. The deal amounted to $ 1.071 billion.
After a difficult 2015, when the market of home appliances and electronics dipped by 19.6% (in rubles), to 1.2 trillion rubles., In the presentyear sales went up. According to market research firm GFK, in the second quarter of 2016 the Russian market of household appliances and electronics grew by 14.2% compared to the second quarter 2015 (absolute numbers the company does not disclose). In the second quarter of 2016. All segments improved their results, with the exception of photographic equipment sector, whose turnover decreased by 17.9% compared to the second quarter last year, indicated in the GFK report. The largest growth showed the telecommunications sector (phones, smart phones and accessories to them): it grew by 33.8% in ruble terms compared to last year. At the same time, as noted in the GFK, demand is offline in units rose by only 4%, online - more than 20%. In 15.4% increased sales of large household appliances. The growth was largely achieved through the online shopping, according to the GFK report.
According to «INFOLine-Analysts' in the first half of the company" M.Video "was the market leader with revenues of 83.6 billion rubles. (Market share - 16.4%). The second place was occupied by DNS company with revenues of 63 billion rubles. (12.4%), the third - the company "Eldorado" with revenues of 50 billion rubles. (9.3%), the fourth - "Yulmart" with revenues of 20.7 billion rubles. (3, 8%), the fifth - "Media Markt" with revenues of 17.9 billion rubles. (3.5%).