Kopeyka has remained silent on reports that US retail giant Wal-Mart has launched a takeover bid for the Russian discount supermarket group’s chain of 528 stores.
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According to a report in Russian business publication Kommersant, the two companies held initial talks over the possible takeover in March-May.
Wal-Mart reportedly followed this up with a written offer in June, a high-ranking official at UralSib Financial Corporation told the daily.
Wal-Mart is reportedly eyeing full ownership of the chain, but a deal that would see major shareholder Nikolai Tsvetkov retain a minority stake is also said to be under consideration.
Tsvetkov also holds a stake in UralSib Financial Corporation. Last week, UralSib said that Tsvetkov had transferred 14.2% in Kopeyka to UralSib Bank, which previously held only 3.34% in the chain.
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By GlobalDataKopeyka will allow Wal-Mart to carry out due diligence in August, after an agreement on exclusivity is concluded, the source reportedly said.
When contacted by just-food, a spokesperson for Kopeyka said the company could “neither confirm nor deny” the report.
Last year, Wal-Mart appointed Dr. Stephan Fanderl to investigate expansion possibilities in Russia and neighbouring markets. The company has since been linked to several local retailers, which are viewed as potential acquisition targets.
However, Wal-Mart has declined to provide a timescale for its long-anticipated entry into Russia. Nor has the group commented on whether it is considering buying up a local retail chain.
