12 Nov '08
Novosibirsk's retailer Komponenty Businessa (Business Components), which manages a chain of house appliances ChudoDom stores, has announced plans to merge with its Lipetsk competitor PlanetaStroy, which works under Uyuterra brand, Kommersant reports.
The merger deal will reportedly see the two companies exchanging the shares without money involved. As a result, both companies' owners will hold shares in the JV.
According to sources, the value of the deal is around $60m.
Once operational, the merged chain is set to become the largest in Russia with over 60 large and medium-sized appliance stores throughout Russia's European part and Siberia.