Last week closing of the Cherkizovskiy market became an international scandal, Chichvarkin’s case received its continuation, the deal on selling Mosmart was closed and the details of the agreement between European Bank of Reconstruction and Development and Lenta became known.

Last week the details of the agreement between the product network Lenta with European Bank of Reconstruction and Development (EBRD) became known. After purchasing 11.1% of Lenta Ltd. stock the bank received an option to resell this share at the company’s “market price” in case it doesn’t enter the stock by May 21st, 2010 or any detached investor takes control over it. Moreover, EBRD received the preference shares allowing to increase its share up to 26.2% in case the Lenta’s receipts increase less then 50% within 2006-2009 or EBITDA margin falls below 6%.

Sberbank-Capital closed the deal on purchasing the trade network Mosmart. The retail business and assets have been transferred to the new company, where the bank has a controlling block of shares. For implementing the deal a company was established, where Sarnatus Trading, the ex-owner of the business, transferred 100% of ZAO Mosmart shares (manages 23 stores of the network) and 100% of ZAO Gipertsentr shares (owner of 4 Mosmart shopping centers in Moscow and the Moscow region with the total size of about 200 000 square meters).

On July 21st, 2009 Gorodskoy Supermarket Ltd., the operator of the supermarket network Azbuka Vkusa, fully paid off the debut bonded loan a 1 billion rubles. According to the company’s data, paying off the obligations was effected at the expense of their own funds.

From July, 16th Vladimir Lizschuk, director of the “Yuzhniy” branch of X5 Retail Group, was relieved of his position. Lev Khasis, X5 Chief Executive, said that Mr Lizschuk was transferred to Moscow. As another X5 manager said, the manager’s transfer to the main office was planned, this would not be a promotion, but a “horizontal” transfer.


Last week the Trade Law continued to be discussed. Lev Khasis, X5 Chief Executive, shared his opinion of the new law. He thinks that strict limitation of the retail market players might result both in the inflation increase and shortage of investment in the Russian retail networks’ development.

As Igor Artemyev, the head of the Federal Antimonopoly Service, thinks, the retailers don’t need to panic due to the ban on building the new stores for those networks, which already have a forth of turnover in the city. The official is sure that this restriction is made only for one company — X5 Retail Group.

The Federal Antimonopoly Service got interested in high prices in the Russian stores. The officials decided to clear up the peculiarities of the national pricing and increase the competition at the market. However, the officials’ diligence sometimes results in something totally opposite. Fighting with the major trade networks instead of decreasing the prices will most probably result in their increase. 

Last week President Dmitriy Medvedev finally signed another law, which is very important for the retail business – Law on using the control and cash equipment by the small business. The relevant amendments were made to the Law on using the control and cash equipment while effecting the cash financial payments and (or) payments using the payment cards, as well as to some separate legislative acts of the Russian Federation.


There appeared some news on the celebrated “Chichvarkin’s case”. The investigation agencies issued the final accusation to Euroset employees adding a false denunciation to kidnapping and blackmail. Evgeny Chichvarkin, the ex-co-owner of Euroset, turned out to be an accomplice instead of head of crime. In this case there are more chances to prove his fault.

It also became known that there appeared some new persons involved in the criminal case, which Evgeny Chichvarkin is accused of – they are two ex-employees of the Directorate of Internal Affairs of the South District of Moscow. According to the investigation version, they favoured the kidnapping of Andrey Vlaskin, the company’s expeditor. Within the next days the investigation plans to bring a final accusation to all the participants of this case except Mr Chichvarkin. His case will continue to be investigated at least until his extradition (or non-extradition) from London.


Some words about another celebrated case about  the assets transfer from a retail company, in which Sergey Bobylev, the founder and co-owner of Sunrise network, is involved: there appeared a message of his arrest. Sergey Bobylev arrived at the Main Investigative Department of the Main Directorate of Internal Affairs of Moscow to receive a writ for interrogation, but was interrogated and arrested.

The Moscow Court of Tverskoy Region hasn’t yet chosen a measure of restraint for Sergey Bobylev. According to the investigation demand, the court examination was delayed until Friday, while the businessman remained under custody.


While the government is sorting out the matter with the retail computer and household equipment network Sunrise, another two top market networks revealed their working results. As it was found out, for the first time in 10 years the receipts of Eldorado, the household and electronic equipment network, appeared to be less than those of their close competitor M.Video.


Last week the fight between leaseholders of the Cherkizovskiy market and the Moscow government developed into a scandal between two countries: Russia and China.

The journalist investigations and the experts’ estimates appeared in mass media quite often.

As the experts predict, the story of closing the market with a criminal reputation will continue for a long time.


The conflict between SantaHouse, the network of household stores, and more than 95 its suppliers might come to an end within the near future. One of the suppliers has filed a bankruptcy action against the retailer.

The Apothecary Network 36,6, which is now coming to an restructing agreement with the bonded loan holders, informed that they are ready to pass the units of the Closed Unit Investment Fund (CUIF) holding the networks’ real estate as a mortgage to the investors.

The company “Natur Product Invest”, a financial branch of St.Petersburg Natur Product holding, admitted a default on retiring the bonds issue a 1 billion rubles.

The digest was prepared by Retailer.RU and was translated by iTrex company. Itrex is a translation bureau. It offers written and oral translation, notary certification and a lot more. Itrex does work with every language: European, Eastern languages and others. Itrex does work with every topic: technical, legal, financial, business, etc.

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