Wednesday, March 19, 2014

The Commercial Side of a Political Crisis

A Russian supermarket chain is selling its stores in the Ukraine.

It's a pretty small deal (they had only twelve stores in the country, and the price is estimated to be in the $5-10mil range).
X5, Russia's second-biggest retailer and part of billionaire Mikhail Fridman's Alfa Group, is selling its Ukrainian stores to local privately owned supermarket chain Varus, a spokeswoman for the Ukrainian company said on Wednesday. 
She gave no details, but Ukrainian newspaper Capital reported earlier that the deal could be worth around $5-10 million. It had been in the works since October, but the crisis over Crimea may have quickened the pace of talks.
Although the deal was in the works for several months, I can't help wondering how much the price dropped in the last few weeks.

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