Safmar Group signed an agreement to acquire 57.7% stake in Public Joint-Stock Company M.video (MISX:MVID) from Alexander Tynkovan, Pavel Breev and Mikhail Tynkovan for approximately $730 million on December 14, 2016. As reported, Safmar Group will pay a price of $7 per share of M.video. As a mandatory condition to the completion of transaction, Safmar Group will make a voluntary tender offer to acquire remaining 42.3% stake in Public Joint-Stock Company M.video (MISX:MVID) at the same price of $7 per share for approximately $530 million. Public Joint Stock Company M.video will be renamed as Public Joint Stock Company SAFMAR Retail. M.video will continue to operate as usual, and the entire management team will remain in place throughout the transaction process and after completion. Alexander Tynkovan will continue to serve as General Director of M.video. Alexander Tynkovan and Pavel Breev will chair the Management Board and will be nominated by the Safmar Group to the Board of Directors, along with Mikhail Gutseriev, Said Gutseriev, Sait-Salam Gutseriev, Mikhail Shishkhanov and Bilan Uzhakhov. The Management Board will also comprise of Said Gutseriev and Bilan Uzhakov. The completion of the transaction is still subject to all necessary regulatory approvals being obtained. As on December 28, 2016, Russian Federal Antimonopoly Service extends review of Safmar request to buy M.video. As of March 13, 2017, Federal Antimonopoly Service approved the transaction. The transaction is expected to close by the end of May 2017. Safmar Group completed the acquisition of 57.7% stake in in Public Joint-Stock Company M.video (MISX:MVID) from Alexander Tynkovan, Pavel Breev and Mikhail Tynkovan on April 28, 2017. Additionally, Safmar Group made a voluntary tender offer to minority shareholders of Public Joint-Stock Company M.video concerning the acquisition of their ordinary shares in the company at the price of $7 per share on April 28, 2017.