Dixy Group closed acquisition deal of Victoria chain with total value Rub 25.6bln, including debt. To finance the deal the company offered 38.75mln shares, each Rub 391 worth, and raised a 4.5bln rubles loan. The major shareholder Merkuriy participated in follow-on offering.
Victoria operates 257 stores in Central and North-Western federal districts, as well as in Kaliningrad region, but only 35 of them will change their name in 2011 (with Rub 1mln investment pro each store). The significant part of integration expenses will fall on 2012. The expected earnings in 2011 will amount to Rub 34bln. The consolidated turnover of Dixy Group will reach approximately Rub 115bln.
Source: www.retail.ru