Czech finance group PPF Group now holds 50% of Eldorado, the Russian consumer retailer. Eldorado knows the finance group well-- the retailer’s main consumer credit partners belong to the PPF Group.
Between $400-800m was extended as financing requiring Eldorado stock as security. That’s surprisingly low when estimates once placed Eldorado’s 1500+ chain at nearly $5 billion. But when you need cash…
"Among others, the conditions of additional financing assume a possibility of acquisition by the PPF Group of a substantial, up to majority, stake in the retailer," says a PPF statement.