RUSSIA: Russian retailer X5 bids for Siberian chain
Russian retailer X5 Retail Group wants to take over the Siberian retailer Holiday Classic.
The Siberian chain operates 219 supermarkets and neighbourhood stores in the region under banners including Holiday Classic and Sibiriada.
"We requested approval from the Russian Federal Antimonopoly Service. If they approve the deal, we will continue the negotiations", an X5 spokersperson told just-food today (17 April).
X5, which operates over 3,100 stores in Russia, does not have any outlets in Siberia. "We actively want to develop our presence in Siberia and the Holliday Classic stores fit our requirements, both technically and in terms of geographic spreading," the spokesperson added.
Jan Fuchs has become the latest senior executive to leave Russian retailer X5 Retail Group....
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