Dixy, Bristol, Red&White to sign merger agreement

MOSCOW, Jan 21 (PRIME) -- Russian retailers Dixy Group, Albion-2002, known under the Bristol brand, and Krasnoye&Beloye (Red&White), will merge, their owners Igor Kesayev, Sergei Katsiyev and Sergei Studennikov, respectively, said in a joint statement on Monday.

Kesayev and Katsiyev will own 51% in the merged business, Studennikov 49%. “Monetary instruments allowing to make valuation of the assets equal will be used during the parity merger,” the statement said.

The three retail chains count more than 13,000 stores. The deal will put the merged retailer to a third position by sales, the statement read.

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