BELARUS NEWS AND ANALYSIS

DATE:

12/01/2007

Belarus: Seventh Continent Takes Control Of Prostor Market

Russian retailer Seventh Continent (Sedmoi Kontinent) announced that it has acquired a controlling stake in Belarusian retailer Prostor Market. Seventh Continent increased its existing stake in Prostor Market from 50% to 50% plus one share, paying $5m for the controlling stake. In July 2006, Prostor opened Belarus? first hypermarket, ProStore, in the city of Minsk.

Seventh Continent currently operates 107 supermarkets and two hypermarkets in Moscow and the Moscow Region, 11 supermarkets in the Kaliningrad Region, and one hypermarket each in St. Petersburg, Ryazan and Minsk. It had a net profit of $45.9m, with revenue of $669.6m for the January-September 2006 period.

Source:

http://www.kamcity.com/namnews/asp/newsarticle.asp?newsid=31263