Russia’s Federal Antimonopoly Service (FAS) has greenlit the acquisition of the O’Key hypermarket chain, stating that the deal does not pose a threat to competition in the country’s wholesale and retail sectors.
Russia’s antitrust regulator has approved the proposed sale of the O’Key hypermarket business to a domestic investor, signaling a major step forward in the restructuring of one of the country’s largest retail chains.
In astatement posted on its official Telegram channel, the FAS said it had reviewed and approved a petition by Zemun LLC to acquire a 99% stake in RBF Retail, a holding company currently owned by O’Key’s management. The transaction, once completed, would give the buyer indirect control of the hypermarket network.
Market analysts estimate the value of the deal at between 40 billion and 55 billion rubles (approx. $400 million to $550 million). However, the transaction still hinges on approval from Russia’s government commission overseeing the sale of strategic assets, including the initial sale of O’Key’s Russian business to its current management.
The board of directors of O’Key Group approved the sale of its hypermarket business in December 2024, as part of a broader effort to restructure its operations in Russia. The deal includes not only the retail locations but also the O’Key trademark and its supporting logistics infrastructure. The group’s discount store brand, “Da!” will remain under the control of O’Key Group.
A source within the company told Russian media that the hypermarket sale process has been “somewhat protracted,” with the company aiming to finalize its restructuring plan by the end of 2025.
Source: Vedomosti
