OREANDA-NEWS. September 29, 2010. X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), announces today that it has completed the acquisition of 100% equity interest in ZAO “Ostrov-Invest”, which operates stores in Moscow and the Moscow Region under the “Ostrov“ brand.

Established in 1995, “Ostrov” retail chain had H1 2010 revenue of RUR 1.5 bln. (incl. VAT). X5 Retail Group has acquired 16 stores in Moscow and the Moscow region with a selling area of 12.3 thousand sq.m. for a total consideration of USD 38 million, including debt. X5 plans to convert approximately half of “Ostrov” stores into supermarkets and the rest to discounters.

X5 received all necessary approvals for the transaction, including an unconditional consent from the Russian Federal Anti-Monopoly Service (FAS).