X5 Retail Group says plans to sell Perekrestok Express chain

MOSCOW, Oct 13 (PRIME) -- Russian retailer X5 Retail Group plans to sell the Perekrestok Express retail chain, the retailer said in a statement on Friday.

The company “plans to concentrate on its three major formats: Pyaterochka proximity stores, Perekrestok supermarkets and Karusel hypermarkets. The company’s small-format convenience stores operating under the Perekrestok Express brand in Moscow will be put on sale. X5 has selected Renaissance Capital to assist with preparation of the deal,” the statement read.

“Perekrestok Express accounts for less than 1% of X5’s revenue,” the company said.

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