Shareholders of Russian retailer Pyaterochka have unanimously agreed to change the company’s name to X5 Retail Group, in accordance with the draft proposal put forward last month.
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It is hoped that the new name will distinguish the parent company from its Pyaterochka-branded chain of supermarkets following the acquisition of Perekrestok earlier in the year. The parent company will continue to operate both formats in the Russian market.
“The name of the company will be changed into X5 Retail Group when the deed of amendment of the Articles has been passed by the notary public,” minutes to the company’s extraordinary general meeting read.
