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Russian retailer M.Video to buy Eldorado chain for $797.6 mln

The company plans to complete the deal during the second quarter of 2018

© Anton Novoderezhkin/TASS

MOSCOW, March 22. /TASS/. The Russian consumer electronics retailer M.Video announced convocation of an extraordinary general meeting of shareholders to approve acquisition terms for the Eldorado chain. The deal price will be up to 45.5 bln rubles ($797.6 mln). Shares will be redeemed by May 28, Chief Financial Officer of M.Video Ekaterina Sokolova said on Thursday.

The meeting of shareholders will be held on April 13. The company plans to complete the deal during the second quarter of 2018 and perform restructuring and creation of a single legal entity by the first quarter of 2019.

The stock redemption price is fixed as 401 rubles ($7) per ordinary share.

A loan amounting to about 40 bln rubles ($700.5 mln) will be raised to implement the deal, M.Video said.

M.Video has been operating since 1993 and is the largest player in the Russian retail market for household appliances and electronics.

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All those linked to Crocus terrorist attack must be punished — Putin

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Russia recovers black boxes from crashed Tu-22M3 bomber

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Dmitry Peskov noted that the trial will be "very complex," but will cause severe damage to US economic interests if the US authorities finally approve the bill regarding Russian assets

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Global community changing tune about how Ukraine conflict started — security official

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Russia’s advanced radar in Kaliningrad to monitor entire territory of Europe — source

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Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

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Musk concurs that civil war looming in West

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Gagauzian leader on unity of Moldova’s opposition, ability to watch Russian TV channels

Yevgenia Gutsul underlined that Gagauzia plans to start exporting products to Russia in the near future

US can ship weapons to Ukraine within few days if funding approved — Pentagon

Radicals, intel services behind terror attacks in various countries, says Putin

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Moscow slams NATO drills near Russian borders as inflammatory

"It is obvious that the upcoming combat training on the territory of Finland is part of a hybrid war against our country," Maria Zakharova said

Top Russian security official pledges continued push toward global justice

Nikolay Patrushev added that Moscow is happy that its position is received well by most countries, whose delegates are attending a meeting in St. Petersburg

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Ukrainian army strikes own surrendering soldiers — POW

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Russia’s victory in Ukraine to change course of history in Europe — von der Leyen

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US 'not forgetting' to help itself with aid to Ukraine — Kremlin

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US using human rights topics to shake political situation in Russia — embassy

"Attacks against Russia mainly focused on challenging the legality of the special military operation in Ukraine", the Russian embassy said

Ukraine could send special forces to capture Zaporozhye NPP — politician

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Russia ready to cooperate with all interested partners to ensure security — Putin

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Beijing condemns US hypocrisy around Ukraine conflict

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Moscow court arrests Deputy Defense Minister Ivanov over bribery case

The court said that Timur Ivanov is accused of receiving a bribe as part of an organized group while performing contracted and subcontracted work for the Defense Ministry

US military aid for Kiev cannot stop Russian army’s advance — North Korean diplomat

The US Congress House of Representatives earlier passed bills on military aid to Ukraine, Israel and Taiwan

Russia tasked with 'building new world' — Putin

Speaking at a plenary session of the Valdai Discussion Club, the Russian leader also highlighted "the role and responsibility" of its members

Russian tourists flock to North Korea — embassy

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Weapons for new US package for Kiev yet to be found — Ukrainian ambassador

Oksana Markarova explained that $4 billion worth of weapons that was to be provided under the previous decisions still remained undersupplied

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

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Russia, Africa united by common vision on global issues — senior diplomat

Mikhail Bogdanov noted that "the African continent is a dynamically developing part of the world with an enormous growth potential, attractive domestic market and expanding export prospects"

Drone crashes in industrial zone in Russian city of Lipetsk

There were no casualties, egional Governor Igor Artamonov said

EU may sanction 10 firms for allegedly shipping weapons tech to Russia — Bloomberg

According to the agency, the companies being assessed for potential sanctions are based outside Russia but have links to Russian and Belarussian individuals and firms

Israel retaliates missile launches from Gaza Strip — IDF

A warning had been issued before the attack calling on people to temporarily evacuate from the area

Detained deputy defense minister suspected of taking grand bribe of over $10,000

This charges carries a punishment of up to 15 years behind bars

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Russian children’s commissioner holds first face-to-face talks with Ukrainian counterparts

Maria Lvova-Belova thanked Qatar for setting up a venue for dialogue between Russia and Ukraine regarding children’s interests

Russia discourages use of UN sanctions for interference in African affairs — envoy

Vasily Nebenzya underscored that Russia continues to "make an important contribution to strengthening of African countries’ potential, including UN Security Council and General Assembly"

IN BRIEF: Russian deputy defense minister, entrepreneur arrested for taking bribes

According to the investigation, Timur Ivanov and Sergey Borodin "criminally conspired with third parties" in order to receive a bribe "as providing monetized services when conducting contracted and subcontracted work" for the Defense Ministry

Over 14,700 residential houses remain flooded in Russia

The source also said that 38,302 Russians have been evacuated from flooded areas and settlements potentially falling into these zones since the beginning of the spring floods

Canada allows Airbus to use Russian titanium despite sanctions — Reuters

"Airbus is aware of the Canadian government imposing sanctions on VSMPO and has obtained the necessary authorization to secure Airbus operations in compliance with the applicable sanctions," the company said

Ukraine exhausted, needs constant money flow from outside — defense official

Apty Alaudinov added that if the Ukrainian army received long-range weapons, it might try to attack Russia's civilian infrastructure due to its powerlessness on the front

Calls for joint use of nuclear weapons with US dangerous — ICAN

The organization believes that the states that deploy nuclear weapons on their territory are "consenting to be party to mass murder of civilians"

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

Republika Srpska president praises Moscow-Banja Luka relations, favors strengthening them

Milorad Dodik also touched upon the topic of sanctions mentioned by Patrushev earlier

US arms supplies unable to change situation in Kiev's favor — Kremlin

Dmitry Peskov pointed out that a year ago the opponents "were telling everyone that they were waiting for the moment Russia would be defeated on the battlefield"

Putin stays in daily contact with Sergey Shoigu, Kremlin spokesman says

Timur Ivanov was arrested by Moscow’s Basmanny Court

Kremlin vows to resolve situation with Turkish Airlines refusing service to Russians

Russia has "very constructive and friendly relations" with Turkey, Dmitry Peskov stressed

NATO makes Russia its neighbor by expanding eastward, Russian envoy says

Earlier, NATO Secretary General Jens Stoltenberg claimed that increased payments to the bloc’s budget were the cost of having Russia as a neighbor

Destroyed TV tower in Kharkov carried Ukrainian air defense coordination device — official

Digital TV signal interruptions are now observed in the city

Ukrainian connection to Crocus terrorist attack undeniable — ex-SBU officer

Vasily Prozorov noted that the perpetrators could have been eliminated once they crossed the border

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted