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X5 Retail acquiring Rostov franchisee for $15 mln (Part 2).
Russia & CIS Business and Financial Newswire
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December 29, 2008
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X5 Retail acquiring Rostov franchisee for $15 mln (Part 2)
MOSCOW. Dec 29 (Interfax) - X5 Retail Group, which operates the Perekrestok and Pyaterochka grocery chains, is acquiring 100% of its Rostov franchisee, Agrotorg-Rostov LLC, for 400 million rubles (about $15 million), X5 reported.
The acquisition cost includes Agrotorg-Rostov debt owed to B.I.N.
Bank and suppliers.
B.I.N. Bank has agreed to provide a loan of 282 million rubles for 18 months to refinance debt.
Agrotorg-Rostov owns a total of 14,000 square meters of retail ...
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