MOSCOW, May 19 (PRIME) -- Russian grocery retailer Lenta has agreed to acquire its contender Billa for 215 million euros, Lenta said in a statement on Wednesday.
“Lenta… has signed an agreement to acquire retail chain Billa Russia GmbH with 215 million euros in cash,” the statement read.
Lenta plans to integrate 161 Billa stores, logistics infrastructure and employees. The Billa Russia trade mark will cease to exist.
The deal is subject to receipt of approval by the Federal Antimonopoly Service, and is to be closed this summer.
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