X5 Group closes purchase of 70% in 2 Siberian retailers

MOSCOW, Nov 3 (PRIME) -- X5 Group has closed an acquisition of Siberian retailers Slata and Krasny Yar, receiving 70% stakes in them, the company said in a statement on Thursday.

"As part of the agreement, X5 acquired 70% of Krasny Yar’s and Slata’s businesses following the relevant approvals by the Federal Antimonopoly Service of Russia,” X5 Group said.

“Once all service's requirements are met, Krasny Yar Group will operate 232 stores with a total retail space of 98,200 square meters, while Slata Group’s business will comprise 362 stores with a total retail space of 132,100 square meters."

The service approved the deal in October.

X5 Retail Group controlled 19,779 Pyaterochka convenience stores, Perekrestok supermarkets, and Chizhik discounters as of June 30.

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