O’Key Group confirms Sberbank’s interest to hypermarket business

MOSCOW, Apr 12 (PRIME) -- Russian grocery retailer O’Key Group is considering various ways to develop its hypermarket business, and confirms top bank Sberbank’s interest to it, although no final decisions have been made, the company said in a statement on Friday.

“The board of O’Key Group notes recent press coverage and confirms that it is evaluating various directions for development and strategic options for the company’s hypermarket business, including an indication of interest in this business from Sberbank,” the statement read.

“This evaluation is at a preliminary stage and no definitive proposals or decisions have been made.”

Reuters reported on Thursday citing sources that Sberbank was holding talks to buy O’Key Group to resell it on to another investor.

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