Russian retailer X5 Retail Group, which has filed a request to buy local discount chain Kopeika, today (23 July) just-food that it is in “discussions” with “many players” over possible M&A deals.
X5 confirmed reports in Russia that it has made a submission to the country’s anti-monopoly watchdog to acquire Kopeika.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A spokesman for X5 said it was “a technical move” ahead of possible discussions with Kopeika but talks would not start until a decision from FAS, Russia’s anti-trust watchdog.
“We have to wait until FAS gives its result. It will be a month or two,” the spokesman said. “We are not saying we are going to buy [Kopeika]. It’s just an opportunity. It might be a good deal.”
However, the X5 spokesman said the retailer, which in 2009 generated annual sales of RUB275.18bn (US$9.04bn), is looking to “develop the business by M&A” and hinted that the company was in other talks elsewhere.
“We are looking at many players and conducting many discussions. I think we are talking to most of the big players, although they are just discussions,” the spokesman said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
