Founder of the Russian Eldorado realized an option on 51% of Kazakhstan's network Sulpak

/IRBIS, October 12, 2010/ - The founder of Russia's largest retailer of home appliances and electronics, "Eldorado" Mr. Igor Yakovlev sold an option to buy 51% of Kazakhstan's largest network Sulpak "stated in the newspaper Kommersant on 11 October. As reported by Kommersant, a partner in the project will be the structure of the People's Bank of Kazakhstan, who converted the outstanding loan by $ 20 million in 25% of its share capital. It is noted that while "Sulpak" unprofitable (minus $ 26 million in 2009), but by the end of 2010 should receive $ 2 million net profit, expects, Mr. Yakovlev. As told to Kommersant Mr. Igor Yakovlev, the option to buy 50% of "Sulpak" the structures of its founders Andrew Park and Diamond Sultan he received in 2006. Then the "Eldorado" advised "Sulpak in retail technology, and discussed the possibility of a joint venture. Option, according to Mr. Yakovlev, was planned to implement in about 2008-2009, but during this period have problems with the Russian business "El Dorado" and the deal was delayed (at the beginning of 2008, companies were tax claims worth about 13.5 billion . rubles). "On my entry into the capital" Sulpak "we went back to the beginning of 2010" - says the businessman. "In January, created a new company" Arena ", which went all the shops" Sulpak. "At the moment there are 37. In the company I got a 51% share. In April last year the Czech PPF Group and Italy's Generali Group have signed an insurance agreement for the conversion of the loan - $ 300 million from $ 500 million - a control stake in the El Dorado and share in the personal development projects founder of a network Igor Yakovlev. In a deal with the PPF Group does not include businesses, "El Dorado" in Ukraine and Kazakhstan. According to Kommersant source close to the Kazakh Company, together with Mr. Yakovlev became co-owners of a local network and the structure of the National Bank of Kazakhstan. "The company has had outstanding bank loan of approximately $ 20 million, which was converted to a 25% stake. The share is framed by a company affiliated with the division of the bank - Halyk Finance", - the interlocutor of Kommersant. Mr. Igor Yakovlev confirmed that among the owners of the network "has appeared a financial institution, abandoning more detailed comments. At the request of Kommersant with the bank on Friday did not respond. Manage "Sulpak has already appointed former managers Eldorado: CEO of the network was Mr. Denis Smirnov (before that was director of planning at the El Dorado), Director of Operations - Mr. Evgeny Kulagin (Russia held a similar position). "Indicators" Sulpak "in terms of growth greatly exceeds the network in Russia and Ukraine", - said Mr. Igor Yakovlev. For example, sales of comparable stores (like-for-like) "Sulpak in the third quarter of 2010 showed an increase of 59.2% in the third quarter of 2009, in the last quarter is expected to increase by 64%. In general, the entire proceeds from the network in 2009 - $ 139 million plan for 2010 - $ 200 million from the second-largest Kazakh Network Technodom "Revenues for the year 2009 - approximately $ 120-125 million [2010-10-12]