Magnit closed the deal to buy Dixy for 87.6 billion rubles

The retailer Magnit has closed the deal for the purchase of the Dixy and Megamart chain stores. The transaction price at the time of closing was RUB 87.6 billion. The deal, the parameters of which were changed, including by order of the Federal Antimonopoly Service, included 2,477 stores.

148 outlets left the parameters of the transaction in connection with the FAS regulations and the threshold values ​​of the market share set by the service. Another 174 stores were not included in the deal due to the closure of some outlets and the opening of new ones. The brands “Dixy” and “Megamart” will be preserved, as well as the legal entity of the absorbed network. At the same time, “Magnit” noted in its message that at a later stage “some adjustments are possible” related to the quality of locations and intersections with existing stores “Magnit”.

Magnit announced the purchase of Dixy Holding Limited, which operates Dixy stores, in May. The FAS approved the deal on the condition that Dixy stores will be transferred under the control of Magnit only in those municipalities where the share of the former does not exceed 25%. The FAS also prescribed a Magnit loyalty program for retirees at the Disks stores. The retail outlets dropped out of the deal will remain with the previous owner – Mercury Retail Group Igor Kesaev.

Details on the terms of absorption – in the material of “Kommersant” “For” Dixy “became” Cheap “”.

Leave a Reply

Your email address will not be published. Required fields are marked *