More speculation about WAL-MART bid for Kopeika
25 December 2009
Just-Food has reported that speculation is mounting that Wal-Mart is preparing to acquire Russian grocery chain Kopeika. The country's Federal Anti-Monopoly Service has approved the acquisition of Kopeika by Ekarpos, an off-shore company controlled by Nikolai Tsvetkov, head at Russian bank Uralsib and the key shareholder of Kopeika. This move is likely to allow Tsvetkov to consolidate ownership of 100% of Kopeika’s shares, which until recently have been operated by him through Ekarpos and three other off-shore holding companies and that this reorganisation could be in preparation for the sale of Kopeika to Wal-Mart. The US giant had made an attempt to buy the Russian company earlier this year, the report added.