O’KEY Group S.A. (AIX, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, announces the completion of the sale of the O’KEY hypermarket chain (“O’KEY hypermarkets” or the “hypermarket chain”) to the chain's management.
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As a result of the transaction, LLC O’KEY, which owns O’KEY hypermarkets together with all its subsidiaries, is now under the control of LLC RBF Retail, which belongs to the management team of O’KEY hypermarkets. Final registration procedures are currently being carried out by Russia's Unified State Register of Legal Entities (USRLE).
The transaction included O’KEY stores, the online platform, trademarks, logistics infrastructure and other tangible and intangible assets related to the hypermarket business segment.
As part of the previously announced preparations for the transaction, the Group completed all the necessary administrative procedures prior to the sale of the hypermarket business, including obtaining shareholder approval and all legally required permits, as well as reorganising the holding in order to separate the hypermarket and discounter businesses.
The O’KEY hypermarket chain continues to operate as usual, fully meeting all its obligations to customers, suppliers, employees, creditors and other interested parties.
The DA! discount chain and its related infrastructure remain within the Group. DA! stores will continue to operate in Russia and to focus on further business growth and improving the customer proposition in the domestic market.
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For further information please contact:
For investors:
Natalya Belyavskaya
Head of Investor Relations
+7 495 663 6677 ext. 266
natalya.belyavskaya@okmarket.ru
www.okeygroup.lu
For the media:
pr@okmarket.ru
Valeria Andreeva
EM (communications consultants to O’KEY Group)
+7 916 978 02 10
andreeva@em-comms.com