Said Gutseriev will leave the board of directors of M.Video after the sanctions.

Gutseriev directly or indirectly owns 60.4% of the authorized capital of M.Video-Eldorado. Earlier in the day, the UK imposed sanctions against the businessman.

Businessman Sauid Gutseriev is leaving the board of directors of the M.Video-Eldorado group, RBC was told in the company's press service.

“Said Gutseriev made a decision to withdraw from the Board of Directors of PJSC M.Video (M.Video-Eldorado Group) by sending an appropriate notification and announced that he had entered the final stage of the previously announced transaction for the sale of directly and / or indirectly shares of PJSC M.Video,” the group said in a statement.

Gutseriev directly or indirectly controls 60.4% of the authorized capital of M.Video, 15% owns Media-Saturn-Holding GmbH (Media Markt and Saturn retail chains), another 0.8% belongs to MVM, its 100% owner is "M Video". 23.8% of the shares of the M.Video-Eldorado group are in free float.

The Group owns 663 Eldorado stores and 605 M.Video stores in 375 Russian cities.

On June 29, Great Britain imposed sanctions against Gutseriev. The press service of the company noted that the M.Video-Eldorado group was not included in the sanctions lists and "continues its operational activities in full."

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On April 29, it became known about Gutseriev's plans to sell a stake in M.Video-Eldorado. The press service of the company then reported that the businessman had already reached an agreement with Russian buyers. Their identities were not named.

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In addition to the son of businessman Mikhail Gutseriev, Said, his brother, Sait-Salam Gutseriev, also fell under British sanctions on June 29. The sanctions cards of Sait-Salam and Said Gutseriev indicate that they are “engaged in generating profit through the support of the Russian government or thanks to it,” and also control stakes in companies in the financial sector, which is critical to the Russian economy. The restrictions include a ban on entry into the UK and the freezing of assets in the country if they are discovered.

Sait-Salam Gutseriev owns a 30 percent stake in the A.N.D. construction corporation, as well as a controlling stake in the Neftisa oil company. Said Gutseriev, in addition to his stake in M.Video-Eldorado, is the controlling shareholder (33.3%) of the SFI investment holding (former Safmar Financial Investments).

Earlier that day, the SFI press service told TASS that Gutseriev had also decided to leave the holding's board of directors due to British sanctions.