X5 Retail Group gets ‘Strana Gerkulesiya’

FreshPlaza:

X5 Retail Group N.V. has signed the agreement on purchase of 100% of business and actives of the network of shops ‘Strana Gerkulesiya’ working in Moscow, the Moscow and Tver areas. It is spoken about in the report of X5 Retail Group.

The total amount of taken obligations under the transaction makes $65mln, including refinancing of a duty. The company plans to finish the transaction up to the end of 2007.

Within the limits of transaction X5 Retail Group gets 29 shops of the ‘discounter’ format, from them 26, operating shops and 3 shops are planned for opening in the first quarter 2008. 5 shops are in Moscow, 16 shops, in the nearest Moscow suburbs and 8 shops, in the distant Moscow suburbs and in the Tver area.

The total area of objects makes 27.1 thousand sq.m., that, besides shops, in particular, includes an office building and an object of not completed construction which in the future may be converted into shops of the group. More.