X5 Retail Group has announced that it has signed an agreement to acquire Kopeika in a transaction with a total enterprise value of RUR51.5bn (£1.05bn) including assumption of debt.

X5 Retail Group has acquired a strong network of Kopeika price-oriented supermarkets which will be rebranded to the Pyaterochka banner. The transaction was approved by the Russian Federal Anti-Monopoly Service and it is expected that the acquisition will close later this month.

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