Clifford Chance advises joint global coordinators on €197 million SPO of M.Video-Eldorado Group
A Clifford Chance team has advised BofA Securities, J.P. Morgan, UBS Investment Bank and VTB Capital in their role as joint global coordinators and joint bookrunners for the secondary public offering of M.Video-Eldorado Group, a leading player in Russia’s consumer electronics market that has 1,074 retail stores, nine distribution centers and 58 regional delivery platforms across the country.
Ericaria Holdings Ltd, a Safmar Group company, has sold 13.5% of the share capital of M.Video-Eldorado, raising RUB17.6 billion (€197 million).
Safmar Group formerly owned 73.5% of the retailer’s share capital. Thus, upon completion of the SPO, the group’s total shareholding decreased to approximately 60%. The SPO will increase the liquidity of shares in M.Video-Eldorado and make them more accessible to a wide range of investors.
A cross-border team advised on the deal, co-led by Moscow partner Arthur Iliev, US Securities Partner Alex Bafi and UK ECM Partner Adrian Cartwright, with key contributions from senior associates Ekaterina Makarova in Moscow, James Spencer in London and Ryan Bosch in Paris.