Russia’s Dixy sells 33% in alcohol, tobacco chain

MOSCOW, Dec 15 (PRIME) -- Dixy Yug, part of retailer Dixy Group, has sold its 33% in Albion-2002, operator of Bristol liquor and tobacco store chain, due to changes in the market situation and the Federal Antimonopoly Service’s rejection of its bid to buy remaining 67% in the chain, the company said in a statement Tuesday.

In May, Dixy Yug raised its stake in Albion-2002 to 33% from 1.2% in a deal that independent appraiser Baker Tilly Russaudit valued at 1.78 billion rubles. Later the company submitted a bid for 67%, but the service rejected it as Dixy Yug has failed to provide necessary data.

The Bristol chain consists of more than 1,400 convenience stores in 27 Russian regions.

(70.2244 rubles – U.S. $1)

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