Russia's X5 Retail Group confirms sale of Ukraine stores
Russian food retailer X5 said on Tuesday it has completed the sale of its business in Ukraine. Ukra…Russian food retailer X5 said on Tuesday it has completed the sale of its business in Ukraine.
Ukrainian retailer Varus Group said last week it was buying the lease rights to the Russian firm's 12 stores in a deal reportedly worth around $5-10 million.
"The disposal of "X5 Retail Group Ukraine", which accounts for less than 0.3 percent of X5's total revenues, is consistent with the company's strategy to focus on core retail activities within the Russian Federation," X5 said in a statement.
X5 did not disclose the terms of the deal.