Last week it became known about two significant deals in the retail business. Oleg Zherebtsov, the founder of the Lenta network, terminated the optional agreement with Marshall Capital Partners Fund and sold his 35.4% of the network at $110-115 million to the American fund TPG Capital and VTB Capital.
The French Natixis Bank purchased Alexander Zanadvorov’s debenture bonds from Deutsche Bank. The security of these bonds is approximately 20% of the Seventh Continent network. After this deal Natixis could only possess about 40% of the network as security.
TD Kopeyka Public Corporation signed 2 franchise agreements at once – with Samtorg Ltd. (operator of the Samokhval network) and Richfor Ltd. (operator of the Marka network). The franchise covers all the stores belonging to the partner companies: 28 Samokhval stores in the central regions of Russia, including the Moscow one, and 14 Marka stores in Moscow. As a result of this deal Kopeyka increased the number of its franchise stores from 33 to 75.
The Mosmart network resumed supplies in its hypermarkets. The network signed more than 100 debt restructing and supply contracts. Principal agreements are signed with more than 520 suppliers at about 70% of the assortment.
By 2010 Mosmart accounts to achieve the sales volume level a 20 billion rubles.
Last week the companies Diksi and Magnit published the financial results of their work. Within the first 6 months of 2009 GK Diksi received 26.754 million rubles of the net receipts, and its net loss came up to 99 million rubles.
During the eight months of 2009 receipts of the Magnit network came up to 107.82 billion rubles. Within this period the company opened 349 stores.
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Last week Evgeniy Chichvarkin’s case again was at the center of attention. Evgeniy Chichvarkin, the founder of the Euroset network, was silent for almost a year. And now he seems to have lost his patience: his interviews started appearing in mass media.
The General Prosecutor’s Office of Russia couldn’t loose its chance and started to report the details of the businessman’s extradition process from England. There appeared the information that on Monday Evgeniy Chichvarkin arrived at the Westminster District Magistrate Court of England. Hearing of his case was postponed to September, 22nd. Later the rumors reported that the businessman was arrested in London, but then released on Ј100 000 bail.
However, the lawyer of the Euroset’s ex-owner heard nothing about releasing his client on money bail.
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At the same time Chichvarkin’s brainchild, the network of the mobile stores Euroset, continues its development in Russia. Within several months the company is to open 100 stores in Russia.
Along with opening the new selling points the businessman Alexander Mamut resumed the negotiations on selling 25% of Euroset to a detached investor. VTB and Russkiy Standard are among the pretenders.
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At the beginning of the week there appeared the information that Lev Khasis might loose the position of Head of Retail Companies Association (AKORT). Following the words of some association participants, he wasn’t able to lobby their interests while preparing the Trade Bill.
Right on Friday the State Duma was to start considering the Trade Bill. The Duma already received the bill from the government at the middle of summer, while working on it continued for 5 years.
Now the officials and deputies will continue fighting for this bill at the State Duma. By the time of the second reading Edinaya Rossiya promised to include the norm of the price markup state regulation “lost” while coordinating the bill at the government. The retailers asked the deputies to come to their senses.
During the first reading on Friday the State Duma approved the government bill On the foundations of the state trade activity regulation in Russia.
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.
