November 19, 2019 / 1:50 PM / 25 days ago

TJX buys 25% stake in Russian retailer Familia

MOSCOW, Nov 19 (Reuters) - U.S. discount store operator TJX Companies Inc has acquired a 25% stake in Russian low-cost apparel retailer Familia for $225 million, the Russian company said in a statement on Tuesday.

The stake will give TJX the right to elect one representative to Familia’s board, Familia said, adding that its founders, along with Baring Vostok and Goldman Sachs remained shareholders of the company. (Reporting by Anton Kolodyazhnyy; writing by Maria Kiselyova; editing by Tom Balmforth)

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