OBI bought a share of its Russian partner

The German seller of the goods for the house and repair the OBI has consolidated its business in Russia after buying a stake in 49% of its Russian partner — the founder of a network “old Man Hottabych” Igor Sosin, writes in Thursday newspaper “Kommersant”.

With reference to the materials of the Federal Antimonopoly service (FAS) and the publication says that Sosin left the capital of “Do-it-yourselfer” (SSR), developing a network under the German brand OBI.

According to the FAS, OBI GmbH acquired 24.5% of the retailer, the transaction was closed in may of this year. As explained in Department, the transfer of this package is part of the overall deal to buy out the German company 49% of the share capital of SSR from its current owner — the company “Sweet investments Ltd. A framework agreement of sale was concluded on 22 April this year. According OBI GmbH now owns 75.5% of the SSR, and the OBI Holding to 24.5%.

The amount for which the German retailer bought out the stake of its Russian partner is not called. The General Director of “Infoline-Analytics” Mikhail Burmistrov estimated not less than 10 billion rubles.

In OBI have refused comments, to contact Solinym promptly failed, the newspaper said.

The newspaper reminds that the joint venture for the development in Moscow and Moscow region hypermarkets OBI, a German retailer and Sosin created in 2003. In the USSR the Germans won 51%, and Sosina structure — 49%. Citing data from Infoline to “Kommersant” writes that at the end of 2015 in Russia there were 25 of OBI.

Director General OBI Russia Ian Strickland in the end of 2014, told the publication that within three years the retailer intends to build the country’s 18 hypermarkets (five or six per year). However, in 2015, the network launched only one new store, said the newspaper. At the end of last year, OBI has kept the second place among DIY-retailers, remains the leader of French Leroy Merlin.