Magnit says starts acquisition talks, due diligence of SIA Group

MOSCOW, Jun 6 (PRIME) -- Russian retailer Magnit is in negotiations with Marathon Group, which has recently become its minority shareholder, to acquire distributor of pharmaceuticals SIA Group from it and has started due diligence, Magnit said in a statement on Wednesday.

“Magnit announces the start of negotiations with the group of companies Marathon Group on acquisition of joint stock company SIA International Group, pharmaceuticals distributor SIA Group, and has started an all-encompassing legal and financial analysis of the latter,” Magnit said.

The structure and terms of the deal will be discussed after due diligence, Magnit said.

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