Daher Holdings to acquire Russian stores of Inditex.

Daher Holdings, a Lebanese private holding group that holds assets in four countries in six different industries, agreed to acquire Russian stores of Inditex, a Spanish multinational clothing company. Financial terms were not disclosed. The transaction will mean the termination of Inditex’s operations in the Russian Federation, after sales were paused on 5 March. If in future Inditex considers that new circumstances allow the return of the Group’s brands to this market, Inditex and the Daher group have the option of a potential collaboration through a franchise agreement.