Auchan’s daughter is thinking about selling shopping malls in Russia

OREANDA-NEWS The Ceetrus Group owned by Auchan, which owns and operates almost 300 shopping malls in Europe, has considered selling assets in Russia. This is reported by the Vedomosti newspaper with reference to its own sources.

According to one of the company’s partners, the issue of selling the business has periodically arisen with the shareholder of Auchan’s daughter in recent years, but it has not reached serious negotiations. The sale of real estate will allow beneficiaries to reduce the risks of owning assets in the country, the sources explain.

The logistics operator Lidertrans from Tatarstan can acquire the assets of Ceetrus — according to available data, negotiations are underway with it. The company specializes in the transportation of goods by road in Russia and Turkey. Earlier, the organization began negotiations on the purchase from Hines of shares in Outlet Village Belaya Dacha in Kotelniki near Moscow and Outlet Village Pulkovo.

Ceetrus is part of the French Auchan group together with Decathlon and Leroy Merlin companies. In Russia, she manages 40 shopping malls and galleries, for example, the Aquarelle shopping complexes in Pushkin, Volgograd, Tolyatti, and the Troika complex in Moscow. According to Senior Director Marina Malakhatko, the market value of Ceetrus assets is 21.6 billion rubles. At the same time, the government commission insists on a significant discount (about 60 percent) when selling Russian assets. In the case of a wholesale sale, the price may be even lower, the sources note.

Previously, the Decathlon network in Russia was bought by the domestic ARM, including the one that owns the Mango franchise. The company acquired 35 stores and one warehouse. Experts estimated the value of assets owned by the French company Decathlon in the amount of 5 to 13 billion rubles. ARM, according to the agreement, will have to open all 35 outlets and restore about 1,400 jobs.

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