Retailer "Magnit" has closed the deal to acquire a chain of grocery stores "Dixy" and superstores "Megamart" for almost 88 billion rubles, according to the website of "Magnit".

Magnit" has taken possession of 2,477 retail outlets. Most of them are located in Moscow and Moscow Region (1.3 thousand stores), St. Petersburg and Leningrad Region (almost 440 points). The remaining supermarkets are located in the Urals, with superstores in Sverdlovsk Region (35 locations) and Tyumen Region (4 stores).

"The deal price at the time of closing was 87.6 billion rubles. Certain adjustments were made at the time of closing compared to the initial aggregate remuneration according to the basic estimate due to the change in the number of stores being acquired," the report says.

It is specified that further adjustments of transaction value will depend on net debt and working capital at the moment of closing of financial statements to be agreed.

"The parties agreed to include 2,477 stores in the perimeter of the transaction - 174 fewer stores compared to the previous announcement, due to the closure of some stores and the opening of new stores prior to the completion of the transaction. In addition, 148 outlets were excluded from the transaction perimeter due to FAS regulations and market share thresholds," the company added.

Made in Russia // Made in Russia

Author: Ksenia Gustova