Russian Magnit to acquire Three great retail chains?

March 22, 2017 4:15 PM

Konzum Donation tuzlalive.baMagnit is a huge retail chain with annual sales of 17.5 billion euros and there are speculations that it will buy Konzum, Mercator and Idea and would become a leader on the markets of Croatia, Slovenia and Serbia.

Magnit, Russia’s largest retail chain, is interested in acquiring Konzum, Mercator and Idea, writes Finance, quotes Tportal.

Magnit employs 271,000 people, in Russia it has 14,000 stores, and is worth of 21 billion Euros on the  stock market. The company was founded in 1994 by entrepreneur Sergei Galickog. He was born in 1967 in Sochi.

Magnit, unlike Agrokor, is not overdue. Finance writes that his ratio of net financial debt and operating profit in the last year is 1.1.

Given that the key players are in the Russian bank Sberbank, which borrowed money to Agrokor recently, have already announced possible position of their people in the administration. Some argue that this means that they are making preparation for acquiring Konzum, Mercator and Idea.

Regarding the business media, Galicki has managed to create a business empire although not being close ally of Russian President Vladimir Putin, but never criticizing Putin’s government either.

According to Forbes, his personal wealth is around seven billion dollars.

(Source: akta)

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