Sberbank plans to invest about 35 billion rubles (equivalent to $461 million) in the goods.ru marketplace and will buy out part of the M.Video-Eldorado shares in the project for 4 billion rubles (equivalent to $52.7 million). This is stated in a bank statement.

As a result, Sberbank will own 85%, M.Video-Eldorado group will retain 10%, and 5% will remain with the founder of M.Video and co-owner of the Goods.ru marketplace Alexander Tynkovan. It is planned that all parties will be represented on the board of directors of the marketplace.

Sberbank plans to integrate goods.ru with SberLogistika, SberMarket, Sber Eapteka, Samokat in order to create “one of the key players in the e-commerce market in Russia”.

At the moment, goods.ru has 18 main categories with 2.5 million goods, in the future their number will increase, Sberbank added. M.Video as a remaining partner will focus on the development of its core business and will expand the range of its own marketplace according to the 3P model (selling partners' goods without creating inventory) both through direct contacts with manufacturers and retailers, and through the infrastructure of goods.ru on its platform.

Contacts:

Alexander Tynkovan, chairman of the board and president of M.Video, founder and co-owner of goods.ru

Konstantin Maslov, commercial director at goods.ru