X5 Retail Group’s approved acquisition of Kopeika may not go ahead

Despite the fact that X5 Retail Group has received approval from the Russian Anti Trust Office to acquire Moscow-based retail chain Kopeika, the acquisition may not happen. Initially, Kopeika aimed to sell its stake to X5 at the beginning of October for an estimated USD1.5 billion including USD400 million of debts. However, a top manager at Kopeika yesterday stated that a final decision regarding the sale will not be taken until the middle December. Kopeika could again be in negotiations with Walmart after the retailer recently confirmed it is continuing to pursue acquisitions in Russia. Kopeika, which operates around 600 supermarkets in Moscow and Central Russia, is one of the few acquisition targets which are currently available on the Russian grocery retail scene.

Planet Retail