Sistema to acquire a 47.7% stake in Melon Fashion Group from Eastnine and East Capital Holding for $256m.

Sistema, a publicly traded Russian investment company, agreed to acquire a 47.7% stake in Melon Fashion Group, a Russian fashion manufacturer and retailer, from Swedish investors Eastnine and East Capital Holding for $256m. "Melon Fashion Group is growing fast and demonstrating operational excellence. The Transaction is entirely in line with our investment strategy, which is focused on consolidating high-quality assets as well as leveraging opportunities arising from the ongoing market transformation. With our extensive experience in building leaders in Russian retail, we will be delighted to take part in the next stage of Melon Fashion Group’s development and to play a role in further increasing the value of its business," Tagir Sitdekov, Sistema President.