Magnit to acquire Dixy business at an enterprise value of Rub 92.4 billion

KRASNODAR: Magnit PJSC has entered into an agreement with Mercury Retail Group Limited to acquire 100% shares of DIXY Holding Limited. Deal price is based on the current enterprise value of Rub 92.4 billion and is subject to certain adjustments depending, among other things, on the net debt and net working capital changes calculated as…

Magnit announces first results of its e-commerce pilots

KRASNODAR: Magnit PJSC, one of Russia’s leading retailers, began testing e-commerce services in the second half of 2020, with the most recent pilots launched in early December. During the first three months, the pilots’ growth dynamics exceeded original expectations and showcased the high potential of this market. Despite being a new entrant in the segment,…