The Ministry of Industry and Commerce explained who is eligible to purchase the Russian assets of the Swedish H&M, which has announced a gradual cutback of business in Russia. The company sells all stores, the distribution center, and merchandise inventory.
The Ministry of Industry and Trade informed TASS about potential buyers of H&M’s Russian assets. They can be Russian investors or investors from so-called friendly countries. At the same time, the Ministry of Industry and Trade is ready to support the latter in the acquisition of the H&M business.
H&M announced a gradual winding down of business in Russia and plans to sell Russian assets on Thursday. The Swedish retailer has 170 stores in Russia, a distribution center of 57 thousand square meters. m., stock of goods for 30 weeks. All of this is put up for sale and is estimated at $210 million, Kommersant writes.
H&M closed its stores in Russia in March, weeks after the start of a raid in Ukraine. H&M has been working in Russia since 2009.
Author:
Kirill Bilyk
Source: RB
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