Technosila, a white goods and consumer electronics chain store, was bought by Mikhail Kokorich, the General Director of Ilim Timber Industry and the co-owner of PlanetaStroy and Uyuttera, two DIY chains. The businessman acquired the controlling shareholdings in OOO ServiceTrade and OOO BusinessPro, the companies that kept running Technosila stores after its former operating companies went bankrupt, Kommersant quotes the online source Retailer.ru as reporting.

‘The strategic and operational management and development is now performed by me and a group of experienced retailers and managers,’ the Internet portal quotes the businessman as saying. According to Kokorich, he has already invested or directed about $300m into the project.

‘My goal is to stabilize the company’s operational management, make the business more competitive, and get ready for a major market expansion in the second half of 2011,’ he says.