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Dixy Sets Investment Goals

Food retailer Dixy Group, which bought smaller competitor Victoria Group, will invest $400 million in new stores and infrastructure and is targeting annual sales of $5 billion in 2012, said Igor Kesayev, president of parent company Mercury Group.

Dixy may offer 25 percent to 30 percent of its shares on some world exchanges "in the mid-term," Kesayev said Monday. He didn't say whether Dixy will issue new shares or Mercury will sell part of its holding.

Mercury Group, which includes Dixy and Kesayev's tobacco and consumer goods wholesaler Megapolis, had revenue of about $15 billion last year, Kesayev said Friday.

(Bloomberg)

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