X5 Retail Group, Russia’s largest retailer in terms of sales, is believed to be in talks to acquire a supermarket chain located in the Russian city of Lipetsk.
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According to a report today (8 June) in Russian newspaper Kommersant, company officials were quoted as saying that X5 could pay as much as US$110m for the Korzinochka chain.
Korzinochka operates 21 stores in the city, which is southeast of the Russian capital Moscow.
