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MegaFon announced the decision to buy Mail.Ru Group for $740 million

The Board of Directors of MegaFon has approved the acquisition by 63.8% of the voting shares Mail.ru Group (15.2% of the share capital) for $740 million this is stated in the press statement.

At the present time these securities are owned by the companies of the group of USM and represent approximately 63.8% of the voting shares Mail.Ru Group. In agreement with the current owners of shares cash consideration includes $640 million payable at the closing of the transaction and a deferred payment of $100 million a year after the closing of the transaction. Thus, the control over an Internet holding company was estimated at $740 million.

“Under the terms of the proposed transaction, MegaFon will acquire 11.5 million shares of class A and 21.9 million ordinary shares in the capital of Mail.Ru Group, representing approximately 63.8% of the voting shares Mail.Ru Group, New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, group USM, for an agreed cash consideration of $640 million, payable at the closing of the transaction, and the payment of a deferred payment in the amount of $100 million a year after closing the deal,” reads the statement of “MegaFon”.

According to “MegaFon”, the transaction will simplify and speed up the implementation of joint projects. In particular, the operator intends to launch a special offer VKmobile for users of “Vkontakte”.

Representatives of the operator added that after completion of the transaction, if it takes place, both companies will work on market terms, and in the management Mail.Ru Group are unlikely to be significant changes.

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CEO Mail.Ru Group Boris Dobrodeyev, whose words are quoted by “MegaFon” approved the cooperation with the operator. “Prospects of cooperation in implementing joint projects such as the launch of special offers under the brand VKmobile and the use of technology, predictive Analytics is a new helpful offers for our users and new opportunities for our business,” he said.

“MegaFon” and Mail.Ru Group controlled by the businessman Alisher Usmanov through USM Holdings structure. In the statement he owns a share in 56,32%, and in the Internet-holding of 15.2% of the economic interest and 63.8% of the vote. Shareholders Mail.Ru Group is a South African holding company Naspers and Chinese Internet company Tencent.

In Mail.Ru Group consists of the website Mail.Ru the social network “Vkontakte”, “Classmates” and “My world”, a number of online games (Warface, Armored Warfare, Skyforge and Perfect World), a map service Maps.me, instant messengers and ICQ “Mail.Ru Agent”, as well as mobile games developer Pixonic, and service delivery food Delivery Club.

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