29 December 2008

X5 Retail Group N.V. to acquire Pyaterochka franchisee in Rostov

Amsterdam, 29 December 2008

X5 Retail Group N.V., Russia’s largest retailer in terms of sales (LSE ticker: “FIVE”), today announced that it has signed an agreement to acquire 100% of the business and assets of OOO Agrotorg-Rostov – a Pyaterochka franchisee in the Rostov region – for a total consideration of RUB 400 mln (approximately USD 15 mln), including refinancing of debt owed to B.I.N.BANK and trade accounts payable to suppliers and employees. In order to refinance the debt of OOO Agrotorg-Rostov X5 and B.I.N.BANK have signed a credit agreement in the amount of RUB 282 mln to be repaid in 1.5 years.