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MegaFon bought Mail.ru Group for $740 million

10.02.2017 Erika J. Wells 0 Comments

MegaFon has completed the acquisition of a controlling stake in Mail.ru Group. The total amount of the transaction amounted to $740 million Of the intention of the operator to redeem the structures of Usmanov’s shares Mail.ru it became known in December 2016.

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MegaFon bought Mail.ru Group for $740 million

Cellular operator “MegaFon” announced the completion of the acquisition of the controlling stake of the holding Mail.ru Group. Salesmen were offshore New Media and Technology Investment, New Media Technologies Capital Partners and Ardoe Finance owned by the controlling shareholder of MegaFon — group USM Alisher Usmanov, according to Cnews.

In the course of the transaction it sold 11.5 million shares of class A and 21.9 million class “B”. Together this package represents 15.2% of the total number of shares Mail.ru Group and 63.8% of the shares of voting stock. At the time of the transaction “the Megaphone” has paid to sellers of $640 million to $100 million will be paid on the first anniversary of the transaction.

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This week it became known that Sberbank has opened “to the Megaphone” the line of credit of up to 35 billion rubles to Finance the acquisition of a controlling stake in Mail.ru Group. The repayment term of this loan is 2024

MegaFon bought Mail.ru Group for $740 million

The owner of the largest economic stake in Mail.ru Group is a South African holding Naspers owns 27.6 per cent. Chinese Tencent owned economic share of 7.4%.

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In Mail.ru Group includes: portal Mail.ru social network “Odnoklassniki”, “Vkontakte” and “My World”, an online division games and other projects. Recently the holding has acquired mobile games developer Pixonic and aggregator for the delivery of food from restaurants Delivery Club.

The need to purchase Mail.ru Group in “MegaFon” explained that currently, the Russian mobile communications market is faced with the “zero growth”. The average revenue per subscriber is falling, and competition for high-value customers increases. In this regard, MegaFon intends to make a bid for “digital” users, active mobile Internet users.

#Games#Vkontakte

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