MOSCOW, Aug 2 (PRIME) -- Russian retailer X5 Retail Group, which manages the Pyaterochka, Perekrestok, and Chizhik chains, has agreed on a strategic alliance with regional retailers Krasny Yar and Slata and will acquire 70% in the retailers, the company said in a statement on Monday.
Krasny Yar and Slata are located in Eastern Siberia and operate around 600 stores. X5 Retail Group is yet to file the request to the Federal Antimonopoly Service, the company said, adding that the regional chains will continue working under their brands and will maintain their operating processes.
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