Food Retail & Distribution

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Dixy Group OAO updates on restructuring-Interfax

Friday, 10 Oct 2014 07:00am EDT

Dixy Group OAO:Dixy's consolidation of 100 percent of Victoria-Baltiya in Kaliningrad will cost 21.21 billion Russian rubles, show Dixy materials for an extraordinary shareholders meeting that will discuss the deal-Interfax.The nominal value of the stake is 31.1 million rubles.Dixy Group will sell the shares to CJSC Dixy Yug.Earlier as part of a program of optimization, Dixy reduced the number of companies in the group from 73 to 27 at the beginning of last year.This year the retailer plans to reduce further to 18 and merge operating companies responsible for the development of the Dixy chain and the Megamart division.

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