PRESS: H&M sells Russian business, including stock

MOSCOW, Jul 28 (PRIME) -- Sweden's retailer Hennes&Mauritz (H&M) is selling its Russian business, including stocks, for U.S. $210 million, business daily Kommersant reported on Thursday citing a source familiar with the offer.

The assets also include a portfolio of rent agreements for about 170 stores in 65 Russian cities, 50% of which are in force until 2050, 50% until 2030–2050, a 57,700 square meter logistic center and a stock of goods for approximately 30 weeks.

End %%mk/jst%%