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BRIEF-Russia's Lenta to buy 22 stores in Siberia from Holiday Group
November 7, 2017 / 2:38 PM / a month ago

BRIEF-Russia's Lenta to buy 22 stores in Siberia from Holiday Group

Nov 7 (Reuters) - Russian food retailer Lenta Ltd says:

* An agreement has been reached with Holiday Group to purchase 22 supermarkets operated under the Holiday Classic, Kora and Holdy brands in the Siberia region;

* 11 of the stores are located in Novosibirsk, 7 in Kemerovo and 4 Barnaul;

* The average selling space per store is around 800 square meters, giving total selling space of approximately 18,000 square meters;

* All the stores are expected to transfer to Lenta ownership before year end 2017;

* The transaction does not require any regulatory approvals;

* Lenta’s existing guidance of about 50 supermarket openings in 2017 with capital expenditure in the range of 30-35 billion roubles ($510.48-595.56 million) remains unchanged;

* Lenta currently operates 36 hypermarkets and 4 supermarkets across Siberia, served by a distribution centre in Novosibirsk;

* Reuters reported last month Lenta was in talks with Holiday on acquiring parts of its business. ​ Source text for Eikon: Further company coverage: ($1 = 58.7680 roubles) (Reporting by Moscow Newsroom)

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