RUSSIA: Russian grocer Kopeika "in sale talks"
Russian retailer Kopeika is understood to be in talks with two potential buyers
Russian retailer Kopeika is in talks with two potential buyers while also eyeing a possible IPO, according to reports.
It is understood the firm, which has valued itself at between US$1.6bn and $1.8bn, is holding talks with rivals willing to buy its entire business, Reuters wrote today (30 June).
Kopeika is owned by Nikolai Tsvetkov, the beneficial owner of the Uralsib bank
Wal-Mart has previously been linked to the possible acquisition of a number of Russian retailers, including Kopeika. However, no deal has been forthcoming.
As we headed into September, there was uncertainty about the prospects for M&A activity, with analysts at KPMG suggesting the value of deals in the food, drink and consumer goods space in the second q...
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