"LLC Lenta ... has entered into an agreement to acquire the supermarket chain Billa Russia GmbH (Billa Russia) for € 215 million in cash," the company said in a statement.
It is noted that "the deal will significantly accelerate the expansion of Lenta in Moscow by acquiring mature retail outlets with an advantageous location and a high density of sales."
On the eve of one of the largest Russian retailers, Magnit, announced that it had agreed to purchase the Dixy retail network with a deal value of 92.4 billion rubles.
Magnit CEO Jan Dunning said the company intends to retain the Dixy brand following the purchase.
At the same time, it was reported that the shares of "Magnit" rose 4.5% on the news of the purchase.