RUSSIA: Magnit to acquire rest of Tandem subsidiary – report
OAO Magnit is planning to acquire the rest of the stock in its subsidiary Tandem by the end of the year, according to its CEO Sergei Galitsky who was quoted in local press today (13 June).
OAO Magnit is planning to acquire the rest of the stock in its subsidiary Tandem by the end of the year, according to its CEO Sergei Galitsky who was quoted in local press today (13 June).
Newspaper Vedomosti speculated that the Russian discount grocery chain, which currently owns 51% of Tandem, would pay US$35 million to $40m for the remaining equity.
Magnit formed the company at the start of 2006 with local businessmen in exchange for rental agreements on 22 properties.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.
Excellence in Action Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suitedelivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.
