Sedmoi Kontinent Plans $4Bln Sale

The Moscow Times
Alexander Zanadvorov, the owner of upper tier supermarket chain Sedmoi Kontinent, is preparing to sell the chain’s managing company along with the rights to rent 130 of its 160 stores for a 15-year period.
The deal could be worth between $2.4 billion and $4.05 billion a record in the retail sector.
X5 Retail Group, which recently conceded pole position on the Russian market to Magnit, will buy the chain, Kommersant reported Monday. The two parties are preparing to formalize the deal, a source said.
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