LLC GEM Invest entered into an agreement to acquire unknown minority stake in Public Joint Stock Company Melon Fashion Group from Eastnine AB (publ) (OM:EAST) and other shareholders on August 7, 2023. The purchase price for Eastnine?s 36% stake is approximately RUB 15.6 billion. The completion of the transaction is subject to significant uncertainties and risks, e.g. disbursement of financing, cooperation of financial institutions and the risk of further sanctions and actions by authorities. The transaction is planned to be completed within the next two weeks. The transaction will take place in several steps and these have been approved by the Federal Antimonopoly Service (FAS of Russia) and the Governmental Commission for Control over Foreign Investments in the Russian Federation.

LLC GEM Invest completed the acquisition of unknown minority stake in Public Joint Stock Company Melon Fashion Group from Eastnine AB (publ) (OM:EAST) and other shareholders on August 10, 2023.