Media-Saturn-Holding GmbH entered into a non-binding agreement to acquire 15% stake in Public Joint Stock Company M.video (MISX:MVID) from Safmar Group on June 14, 2018. On June 20, 2018, Media-Saturn-Holding GmbH entered into a definitive merger agreement to acquire 15% stake in Public Joint Stock Company M.video from Safmar Group. As part of the consideration, Media-Saturn-Holding GmbH would pay a purchase price in the amount of €258 million and transfer its entire loss-making Russian MediaMarkt business to SAFMAR. Depending on the future development of certain financial ratios of M.video the cash purchase price may be reduced by an amount of up to €86 million. The purchase price would be subject to further customary adjustment mechanisms which might result in an increase or reduction of the purchase price. Media-Saturn-Holding will finance the transaction with existing cash. M.Video shall get 42 MediaMarkt stores in 22 cities of Russia upon completion. Under the deal, M.video Management LLC shall obtain control over MediaMarkt Russia. The acquired stores will continue operating under M.Video and Eldorado brand names. Media-Saturn shall be granted a Director and an observer seats on the Board of Directors of M.video. The transaction would likely have a one-time negative impact on Ceconomy AG, parent of Media-Saturn-Holding GmbH, net result for the current financial year 2017/18. The completion of the deal is subject to the approval by the Federal Antimonopoly Service of the Russian Federation and regulatory approvals, in addition to other customary closing conditions and necessary corporate procedures in accordance with the current legislation of Russia regulatory clearance. As of June 20, 2018, Board of Directors of M.video has approved the deal. The deal is approved by FAS. The deal is expected to be closed by September 2018. Martin Neuhaus, Harald Selzner, Tobias Larisch, Sebastian Goslar, Benedikt Vogt, Steffen Augschill and David Funken of Latham & Watkins Schön Nolte acted as legal advisor to Ceconomy AG, the parent company of Media-Saturn-Holding GmbH. Christoph Holstein, Andrew Vaughan Robinson, Christoph Holstein, Torsten Syrbe, Werner Brickwedde, Tobias Kamerling, Heiner Hugger, Alexander Cappel, Sardaana Nogovitsyna, Ani Tangyan, Alexander Anichkin, Dmitry Tolkachev, Arthur Iliev, Ekaterina Sharapova, Vitaly Koloskov, Ilya Stekunov, Victoria Khandrimaylo, Nikolay Kosminskiy, George Kleinfeld and Jacqueline E Landells. of Clifford Chance LLP acted as legal advisor to Media-Saturn-Holding GmbH. Media-Saturn-Holding GmbH completed the acquisition of 15% stake in Public Joint Stock Company M.video (MISX:MVID) from Safmar Group on August 31, 2018. As a result of this acquisition, Media-Saturn-Holding GmbH will obtain seats of a Director and an Observer of the Board of Directors of PJSC M.Video.