March 22, 2018 / 12:33 PM / 6 months ago

BRIEF-Russia's M.video buys Eldorado for around $800 mln

March 22 (Reuters) - Russian electrical goods retailer M.video says:

* Announces acquisition of Eldorado for 45.5 billion roubles ($798.82 million), excluding the liabilities of Eldorado

* Plans to take a loan of around 40 billion roubles in addition to own funds to finance the acquisition

* Expects the combined company’s revenues to reach 450 billion roubles in 2022

* The net debt to EBITDA ratio of the combined company is expected to be 1.5 times at the end of 2018 and fall to 0.5 times by the end of 2020

* The company plans to close the deal in Q2 2018

* M.video’s FY 2017 net profit was 6.95 billion roubles, up 25.4 percent on 2016

* FY 2017 EBITDA rose 14 percent to 11.79 billion roubles

* EBITDA margin grew to 6.0 percent in 2017 from 5.6 pct in 2016

* Net revenue was up 8.2 percent to 198.2 billion roubles. Further company coverage: ($1 = 56.9591 roubles) (Reporting by Moscow Newsroom)

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