Kopeika looks to sell entire business
Russian retailer Kopeika is in talks with two potential buyers while also eyeing a possible IPO. The company, which has valued itself at between USD1.6 billion and USD1.8 billion, is holding talks with rivals willing to buy its entire business, Reuters reported. Kopeika is owned by Nikolai Tsvetkov, the beneficial owner of the Uralsib bank.
Russian X5 Retail Group is believed to be in talks with the Kopeika, after the latter’s discussions with grocery chain Magnit failed over price. Walmart has previously been linked to the possible acquisition of a number of Russian retailers, including Kopeika, however no deal has been forthcoming.
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