Report
Andrey Krylov ...
  • Mikhail Krasnoperov

М.Видео - Объявлено о планах приобретения магазинов MediaMarkt

Компания М.Видео объявила о намерении провести в два этапа сделку, в рамках которой ее материнская компания Safmar продаст 15% в М.Видео в пользу Media-Saturn-Holding, который, в свою очередь, продаст М.Видео свой российский бизнес (42 магазина MediaMarkt). Сделка должна быть одобрена ФАС. Стороны ожидают, что сделка будет завершена в 3К18. М.Видео считает, что приобретаемые активы принесут компании дополнительно 110 млрд. руб. выручки в 2019-2022 годах и 11 млрд. руб. EBITDA. Как и приобретение Эльдорадо, эта сделка, по нашему мнению, вполне имеет смысл для М.Видео со стратегической точки зрения, хотя цена в $170 млн. представляется нам завышенной.
Underlying
M Video

M.video PAO (formerly known as M.video OAO) is a Russia-based consumer electronics and home appliance retail chain. M.video PAO operates through numerous stores in over 100 cities, as well as through online store within the Russian Federation. It offers audio, video, digital, small and large home appliances, media and entertainment products, as well as accessories. It also offers products delivery and repair services. In addition, the Company provides management and consulting services for holding companies and for companies active in the financial and industrial sectors. M.video PAO operates through two wholly owned subsidiaries, located in Moscow. As of December 31, 2011, the Company's major shareholder was Svece Limited with a stake of 67.78%.

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Andrey Krylov

Mikhail Krasnoperov

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