Lenta closes deal to buy online seller Utkonos for 20 bln rbl

MOSCOW, Feb 1 (PRIME) -- Russian grocery retailer Lenta has closed a deal to acquire online retailer Utkonos for 20 billion rubles, according to Lenta’s documents seen by PRIME on Tuesday.

The acquisition will allow Lenta to widen its share on the online market significantly and compete more effectively in this segment in Moscow, mainly in the price categories of “above average” and “premium.”

As a result of the deal, Lenta’s share on the Moscow online market will reach 11%.

(77.4702 rubles – U.S. $1)

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