Home / Markets / Industries / Retail
Wednesday, November 25, 2009
X5 Retail Group Buys Paterson Supermarket Chain
By Polya Lesova
MarketWatch Pulse
FRANKFURT -- X5 Retail Group N.V. , Russia's largest retailer in terms of sales, said Wednesday it agreed to acquire 100% of Paterson, a non-public supermarket chain of 82 stores located in Moscow and other cities of European Russia and Urals. The transaction will be structured as a 100% payment in cash for equity and full assumption of Paterson's debt. Under the deal, equity value totals $189.5 million, while Paterson's net debt stands at about $85 million. X5 said it plans to finance this purchase from its operating cash flows. The Russian Federal Anti-Monopoly Service granted approval for the deal in October. X5, which expects to complete the transaction by the middle of December, said the acquisition of Paterson will increase its supermarket store count by approximately 25%.
Copyright © 2009 MarketWatch, Inc.
Fox Business Video
-
-
Euro Debt Could Boost Gold
-
Feb 9, 2010
FOXBusiness.com LIVE
-
-
-
Health-Care Reform vs. Job Creation
-
Feb 9, 2010
Question of the Day
-
-
-
Ron Paul on Stimulus
-
Feb 9, 2010
Future of government bailouts?
-
-
-
U.S. No Longer the Space Explo...
-
Feb 9, 2010
Future of space program
-
-
-
Toyota Will Recover
-
Feb 9, 2010
Will the auto manufacturer bounce back?
-
Last 5 Stocks
- Ticker
- Company
- Price
- Change