Amsterdam, 24 June 2021 – X5 Group ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE"), announces the restructuring its digital businesses (Vprok.ru Perekrestok online hypermarket, express e-grocery services and Okolo platform) into a separate business unit within X5. The decision has been approved by X5’s Supervisory Board.
Developing digital businesses is one of X5’s priorities under its 2021–2023 strategy. To achieve this, the Company is considering several options that include attracting public market investors, establishing a strategic partnership and growing the businesses organically.
X5 plans to complete an in-depth review of strategic options for creating a digital business company during the year. More details about the timeline and the steps X5 will take to develop the new business unit will be communicated in due course.