Last week Magnit stated the second selling price: the investors could purchase the shares at $12-13.5 per GDR, i.e. without any discount to the present price.

As a result the retailer was able to sell the shares within the limits of the second selling at the price higher than the market one – at $13 per GDR. The demand was twice higher than the supply.

The company attracted $527 million within the limits of SPO. The international institutional investors requested 5.68 million shares of the additional emission in GDR for $369.2 million. The requests for additional 2.42 million new issue shares were received from the present shareholders. Magnit planned to invest the received money in expanding the store network and developing the logistics.

Igor Artemiev, Head of the Federal Antimonopoly Service of Russia, informed that the FAS approved the application from the retailer with the largest sales volume in Russia on purchasing the product network Paterson. The Service allowed to purchase Paterson network without any restrictions. According to the analysts’ estimates, the sum of the deal will come up to about $200 million taking into account the Paterson’s debt a $100 million. X5 may partially pay the deal with its own shares.

X5 Retail Group again pretended to the retail network Kopeika. The owners of Kopeika, who earlier negotiated with the American Wal-Mart, held a tender for selling the business.

X5 also started to consider the areas of Nakhodka, another St.Petersburg retailer.

According to January-September 2009 results the total receipts of GK Diksi came up to 39 619 million rubles, which is 15% more than the same index in 2008 (34 594 million rubles).

Last week the new leaders of the trading network Lenta discussed the possibility of dismissing 5 directors of the company. However, the top-managers themselves and the market analysts consider this course of events to be quite predictable due to Oleg Zherebtsov, the network founder, leaving the business.

The French group Carrefour managing the trade network of the same name employed the investment bank Lazard for finding a buyer for its Russian business.
In Yekaterinburg a new argument about the land areas flared up. The local Ministry of the State Property addressed the Sverdlovsk Arbitrage Court with an action to recover 22.8 million rubles from the mayor administration. The Ministry representatives affirm that the city hall received this very sum from selling a land area belonging to the region to the company Metro Cash & Carry in 2006.

The network Metro Cash & Carry opened a store in Kazakhstan and laid the foundation of building its first shopping center in Egypt.

After launching the pilot network of 16 “KOOP Torg” stores in the Ulyanovsk region, the Union Trading System of Tsentrsoyuz will now start developing only in 2010. The organization plans to convert 9000 separate selling points under one brand and to open from 60 to 120 stores in the three regions during the first 6 months of 2010.


The development plans of the Uyuterra network (household appliances stores) from Lipetsk became known. Till the end of the year the network is to expand and include another 10 objects. Five of them will be launched at the trading areas of the network Santa Claus, Uyuterra’s competitive, which became bankrupt this year. The other ones will be opened in the Moscow major shopping centers and the regional shopping and entertainment centers Mega.

Group of companies Detskiy Mir declared its intention to actively develop the production of its own trade marks by increasing their quantity from 8 to 20 units.

To concentrate on developing the retail business, Gloria Jeans Company totally rejected the wholesale trade, which brought more than $70 million of income per year. The regional offices, which earlier dealt with the wholesalers, are now in charge of developing the retail network in the relevant region.

Within the limits of the company reorganization the fashion house Versace decided to reduce a quarter of its staff and to reconsider the working procedure of its store network all over the world.


Bank Russkiy Standard Close Corporation addressed the Moscow Arbitrage Court with an action to recover 433.818 million rubles from Magaziny Elektroniki Mir Public Corporation. The dispute category is the bank securities.

In accordance with the International Financial Statements Standards the Euroset company declared its working results for the third quarter of 2009. The retailer’s net consolidated receipts came up to 15.247 billion rubles. The net income is 1.196 billion rubles.

The Ninth Arbitrage Appellate Court reconsidered the judgment earlier issued on the Euroset’s action against MTS by the first instance court. At that time the court admitted that MTS had the right to reject receiving the subscribers’ payments through the Euroset stores. However, this time the court of appellate jurisdiction considered these actions of MTS illegal.

The Ninth Arbitrage Appellate Court admitted that the retailer Tsifrograd (now under the bankruptcy procedure) owes Megafon 280 million 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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