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X5 Retail Group to review retail chain acquisition
RBC, 27.03.2008, Moscow 18:12:41.The Supervisory Board and the Management Board of X5 Retail Group N.V. have decided to convene an extraordinary shareholders meeting in Amsterdam on April 21, the company reported today. The meeting agenda is expected to include authorizing the company's management to finance the potential acquisition of Formata Holding B.V., which owns the Karusel hypermarket chain. X5 Retail Group will announce its decision on the purchase of the chain as soon as it has been approved by the group's Supervisory Board, provided that a satisfactory due diligence report on Formata is received.
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