Alexander Tynkovan, Sberbank and M.Video to form a joint venture.

Alexander Tynkovan, a founder of M.Video, Sberbank, a state-owned Russian banking and financial services company, and M.Video, a Russian household appliances and electronics retail chain, are set to form a joint venture. Sber will acquire 85% stake $52.5m cash-out transaction with M.Video and 45% through $408m cash-in. M.Video's and Mr. Tynkovan's shareholdings will be reduced down to 10% and 5%, respectively.