Russia’s largest retailer X5 Retail Group has said that it will appeal against the conditions imposed on its acquisition of St Petersburg-based hypermarket chain Karusel by the country’s competition watchdog.
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X5 is looking to Moscow’s Arbitration Court to overturn the Federal Anti-Monopoly Service’s requirement that it reveal details of its relationships with suppliers in St Petersburg.
When the condition was first announced, X5 initially said it complied with the requirement. The food retailer has since decided that the condition is in breach of antitrust legislation.
“The requirements… limit the company’s ability to choose counterparties and may unwittingly put the company in an unequal position versus other companies working in the St Petersburg food retail market,” X5 said in a statement.
X5 acquired Karusel for US$940m in May.
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By GlobalData
