Technosila offered for sale

2012-01-31



The MDM Bank and Mikhail Kokorich have offered the Technosila consumer retail chain, which sells electronic appliances and household goods, for sale. The offer was made to other companies in this market subgroup, M.Video, Eldorado and Media-Markt-Saturn, and to smaller regional players such as Poisk, Sibvez, Rembyttekhnika and Beringov. During the talks, the owners of Technosila suggested that the latter four companies merge their businesses
In addition, according to the same source, potential buyers are more interested in acquiring part of Technosila’s business, but the owners are insisting on selling it in its entirety at a price of approximately $200m. Alternatively, the business might be offered for merger.
As Retail Update Russia reported in late 2010, the company has planned to reorganise half of its 124 retail outlets since early 2011. After numerous problems, including bankruptcy cases among Technosila-related companies, the brand was acquired by Mikhail Kokorich, who owns the Uyuterra DIY retail chain. The new owner has announced that the brand will be actively developed again in the future.

More on this subject in the “Russian retail consumer electronics market challenges” article.