Mamut will buy his share in Rambler & Co from Potanin for $ 295 million

Businessman Alexander Mamut is forced to buy his share in Rambler & Co from his partner, Vladimir Potanin, for $ 295 million, Vedomosti reports . The deal is scheduled to close by the end of this year, after which Mamut will become the sole owner of Rambler & Co, in which he now has half, but he will have to pay almost twice as much for a part of his partner as originally envisaged.

The deal stems from a merger of media assets of Mamut and Potanin back in 2013. According to his terms, Potanin received the right in 2.5 years to sell his share of Mamut for a fixed amount of $ 295 million, which he now used.

After the ruble weakened, the value of Potanin’s assets increased from 9.7 billion to 19.1 billion in terms of national currency. The transaction will be completed under the terms of 2013, there were no reservations about the devaluation of the ruble. Taking into account that the main income of Mamut’s company is received in Russian rubles (including Rambler & Co), the deal is not entirely profitable for him.
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Potanin began selling off his media assets a few years ago when he became disillusioned with this market and its prospects. In this case, Mamut, becoming the managing partner after the merger of assets, managed to establish effective work within the organization.

Rambler & Co is a closed structure and does not provide financial statements, but several Vedomosti interlocutors claim that since the arrival of Mamut, the company has not only ceased to be unprofitable, but also doubled its revenue this year compared to the previous one. At the same time, Mamut plays a huge role in the formation of the company's revenue, as it uses personal connections and its own authority to receive advertising budgets.

After the sale of Rambler & Co from Potanin in the media segment will remain only a share in the online cinema Ivi.ru.