X5 completed the acquisition of a 70% stake in Krasny Yar and Slata.

X5, a Russian food retailer, completed the acquisition of a 70% stake in Krasny Yar and Slata, two retailers in Eastern Siberia. Financial terms were not disclosed. Both retail chains will retain their brands and business models, while some processes will be integrated with X5 to achieve synergies, including in procurement and logistics. Strategic oversight of the Krasny Yar and Slata chains will be carried out by a management company that was founded in August 2022 and represents X5 as well as both companies on its board of directors. The chains' existing management teams will continue to manage their respective operations.