The Board of Directors of Magnit has approved a change in the acquisition price of Dixy Group. According to the company's press service, the transaction price has been increased to 97 billion rubles.

The transaction price was 87.6 billion rubles at closing, but the board of directors approved the price change to 97 billion rubles. The price adjustment was due to the changes in net debt and working capital in accordance with the closing statements, as well as other transaction conditions governing the price adjustment, the company explained.

As previously reported, the transaction was approved by Magnit's Board of Directors on May 18, 2021. On July 15, approval of the deal was received from the Federal Antimonopoly Service of Russia. Through its main operating subsidiary JSC "Tander", the Company acquired 100% of shares of DIXY Holding Limited (Cyprus).

Made in Russia / Made in Russia

Author: Maria Buzanakova