DGAP-Adhoc: CECONOMY AG: CECONOMY AG reports on further progress of its talks concerning a potential acquisition of a 15% stake in PJSC M.video against transfer of the Russian business of Media-Saturn Group and considers an equity measure

2018. június 19., kedd, 12:25





DGAP-Ad-hoc: CECONOMY AG / Key word(s): Mergers & Acquisitions/Corporate Action


CECONOMY AG: CECONOMY AG reports on further progress of its talks concerning a potential acquisition of a 15% stake in PJSC M.video against transfer of the Russian business of Media-Saturn Group and considers an equity measure


19-Jun-2018 / 12:25 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Media-Saturn-Holding GmbH (MSH), a majority shareholding of CECONOMY AG (CECONOMY), is in very advanced talks with a company of Safmar Group (Safmar) relating to an agreement concerning the acquisition of a 15% stake in publicly listed PJSC M.video (M.video), the leading Russian consumer electronics retailer, by MSH and the transfer of its entire loss-making Russian MediaMarkt business to Safmar. These talks could come to a conclusion shortly.


With a view to preserving sufficient leeway and to strengthening the balance sheet of CECONOMY for further strategic measures, also with regard to the consequences of the realization of the afore mentioned transaction, CECONOMY considers carrying out a share capital increase of up to 10%. The capital increase would occur out of existing authorized share capital under exclusion of existing shareholders" subscription rights. A final decision will be taken at a later point in time.


Person making the notification: Sebastian Kauffmann, Vice President Investor Relations, CECONOMY AG








19-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: CECONOMY AG

Benrather Straße 18-20

40213 Düsseldorf

Germany
Phone: +49 (0)211 5408-7223
Fax: +49 (0)211 5408-7005
E-mail: sebastian.kauffmann@ceconomy.de
Internet: www.ceconomy.de
ISIN: DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/
WKN: 725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/
Indices: MDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange





 
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696563  19-Jun-2018 CET/CEST







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