Price of Magnit’s acquisition of Dixy chain can rise to 97 bln rbl

MOSCOW, Sep 1 (PRIME) -- The board of directors of Russian grocery retailer Magnit has approved an increase of the acquisition price for grocery chain Dixy to 97 billion rubles from 87.6 billion rubles, Magnit said in a statement on Wednesday.

“The board of directors has approved adjustment of the deal’s price to 97 billion rubles, which is linked to the changes in the net debt and working capital in line with the final financial statement, and other conditions of the deal, which influence the price,” it said.

In July, Magnit said that it had closed acquisition of 2,477 Dixy stores for 87.6 billion rubles.

(73.2781 – U.S. $1)

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