Damas, the Middle East’s leading international jewellery and watch retailer, has announced that it has recently been appointed as the exclusive Authorised Forevermark Jeweller in the United Arab Emirates (UAE). Forevermark is the diamond brand from the De Beers Group of companies and this is the first time that Forevermark diamonds, popular with celebrities around the world, will be available in the Middle East.
Each Forevermark diamond is carefully selected and comes from a source committed to high business, social and environmental standards; is beautifully crafted by a select group of diamantaires; and exclusively available from select jewellers around the world. Less than one per cent of the world’s diamonds are eligible to become a Forevermark diamond and be inscribed with the Forevermark icon and an individual number. Each Forevermark diamond has been responsibly sourced and has directly benefited the communities from which it comes. This careful selection process means that Forevermark diamonds are the world’s most carefully selected diamonds.
Czech financial group PPF had informed that Kaha Kobakhidze, who had performed as a general director of Eldorado retail network, resigning due to his agreement with the shareholder. The place will be occupied by Eldorado’s vice-president Igor Dolezhel.
Mr. Dolezhel had worked for the last six years on leading management positions in PPF in Russia and Belarus. Prior to completion of the necessary administrative procedures the role of the group’s general director will temporarily be fulfilled by its vice president for security and legal support of business Oleg Sukovatov.
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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Mechel Announces Finalization of Negotiations on 1-Billion-Dollar Syndicated Loan Agreement with International LendersFriday, Dec 6, 2013 at 9:27 am
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