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DGAP-Adhoc: CECONOMY AG: CECONOMY AG reports on the status of talks concerning a possible transaction with respect to the Russian business of Media-Saturn Group

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DGAP-Ad-hoc: CECONOMY AG / Key word(s): Mergers & Acquisitions
CECONOMY AG: CECONOMY AG reports on the status of talks concerning a
possible transaction with respect to the Russian business of Media-Saturn
Group

14-Jun-2018 / 18:12 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 advanced discussions with a company of SAFMAR Group
(SAFMAR) relating to the acquisition of a 15% stake in publicly listed PAO
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. MSH would pay a purchase price in the amount of approx. EUR 258m
(based on today's exchange rates). Depending on the future development of
certain financial ratios of M.video the cash purchase price may be reduced
by an amount of up to EUR 86m (based on today's exchange rates). The
purchase price would be subject to further customary adjustment mechanisms
which might result in an increase or reduction of the purchase price. The
contemplated transaction would entirely eliminate the operative losses of
the Russian business of MSH and would hence be in line with the communicated
strategic agenda of CECONOMY. At the same time would the contemplated
transaction enable MSH to participate in the future value development of
M.video.

A non-binding agreement on material cornerstones of the contemplated
transaction has been reached.

On the basis of the available figures per 31 March 2018, the transaction
would likely have a one-time negative impact on CECONOMY's net result for
the current financial year 2017/18 of a low three-digit-million-Euro amount.

Neither has a binding agreement between MSH and SAFMAR concerning the
transaction been entered into nor have MSH and CECONOMY taken a decision
whether the transaction shall actually be pursued. CECONOMY will inform the
capital market and the public about the progress of this matter in
compliance with the applicable legal requirements.

Financial ratios:
Further background as regards the financial ratios referred to may be found
on page 51 of the financial report for the financial year 2016/17 published
on the company's homepage, accessible via the following link:

https://www.ceconomy.de/media/ceconomy_annnual_report_2016_17.pdf

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

14-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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

End of Announcement DGAP News Service

695577 14-Jun-2018 CET/CEST



(END) Dow Jones Newswires

June 14, 2018 12:12 ET ( 16:12 GMT)
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