Russian grocery chain Seventh Continent today (9 March) confirmed reports that it had acquired control of United Commercial Real Estate in a deal valued at almost US$150m.
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United Commercial owns 29 non-chain retail stores in the Moscow area.
In a brief statement the company said the move increases its selling space to 68,000 square kilometres.
The acquisition is the retailer’s second this year; it has also purchased a controlling stake in discount chain Citimarket for US$10m.
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