X5 Retail intends to sell the Perekrestok-Express chain

X5 Retail Group, which manages the Pyaterochka, Perekrestok and Karusel chains, plans to put up for sale the Perekrestok-Express retail chain, which now accounts for less than 1% of the retailer’s revenue, X5 Retail said in a press release.

“X5 Retail Group has decided to focus exclusively on three main formats – supermarkets near the Pyaterochka house, Perekrestok supermarkets and Karusel hypermarkets. The Perekrestok-Express retail chain in the convenience format, located in Moscow and consisting of stores small area, will be put up for sale, “- said in the message.

“To prepare the deal, X5 chose Renaissance Capital Bank. The Perekrestok-Express retail chain’s share in X5 Retail Group’s revenue is less than 1%,” the retailer adds.

X5 Retail Group is one of the largest retailers in Russia. The total number of the company’s stores at the end of September 2017 reached 11,326 thousand. The main shareholder of the retailer is Alfa Group, which owns 47.86% of the company’s shares. EBITDA X5 Retail at the end of 2016 according to IFRS increased by 38.1% in annual terms – up to 76.267 billion rubles.

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