Dixy Sets Investment Goals

By The Moscow Times

June 20, 2011

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)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue