One of the founders of the Pyaterochka and Karusel retail chains, Andrei Rogachev, sold his 11% stake in X5 Retail Group ((FIVE:IX) and is no longer a shareholder of the company, RBC Daily reports, quoting sources.
X5 has not yet disclosed any changes in its shareholder structure. As of 30 September 2009, its major shareholder was Alfa Group (47.9%), followed by Pyaterochka founders Rogachev and Alexander Girda (23% combined). The free float was 27%.
On December 4, X5 Retail Group (FIVE:LI) sealed the deal to acquire the Kopeika retail network, Vedomosti reported. The information has already been confirmed by both the purchaser and the seller.
The asset was reported to have been priced US$1.65 billion, including a US$400 million debt, instead of the previously considered US$1.5 billion. We note X5 has only acquired Kopeika’s retail capacities, but not its brand: the purchased stores are to be branded Pyatyorochka in the future. Finally, it was reported the deal was to be financed from a Sberbank loan, and not additional issue proceeds.
X5 Retail Group has made an offer to acquire the Mosmart chain, which is under bankruptcy supervision, RBC Daily reports. According to the newspaper, X5’s bid scuttled a nearly closed deal to sell Mosmart to Auchan and Vester.
Mosmart comprises 16 standard and compact class hypermarkets, located in Moscow (four) and regions of Russia with a total selling space of over 183,000 sq.m. The company managed to re-launch its business in 2010 after coming under Sberbank Capital’s control. In 9M10 Mosmart’s revenues totaled RUB 6.4bn (about USD 210mn).
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