OREANDA-NEWS.    Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as "the Company" or "the Group"), one of the largest Internet companies in the high-growth Russian-speaking Internet market, today announces it has entered into an agreement for the acquisition of Bullion Development Limited (Bullion), the beneficial owner of 11.99% of VK.Com Limited (VK).

Upon completion of the acquisition, which is conditional on a number of matters including third-party consent, the Group would have a 51.99% economic interest in VK.  No changes to the operational control over VK are intended. Accordingly, Mail.ru does not intend to fully consolidate VK in its financial statements upon completion.

The beneficial owner of Bullion is Ivan Tavrin.

The acquisition of Bullion is for cash and also gives Ivan Tavrin a 3 month option to buy the HeadHunter business from Mail.ru.
The acquisition of Bullion has been unanimously approved by the Board of Directors of the Company, including its independent directors.