The Federal Antimonopoly Service has approved Magnit's request to purchase the ABC of Taste

The Federal Antimonopoly Service (FAS) has approved the petition of the federal retailer Magnit for the purchase of the Azbuka Vkusa chain. This was reported to Izvestia on May 5 in the department.

"The FAS of Russia has approved the application of JSC Thunder for obtaining preliminary consent to acquire a share in the authorized capital of LLC City Supermarket (Azbuka Vkusa chain)," the agency said.

It is reported that Azbuka Vkusa will voluntarily limit the margin to no more than 10% for some socially significant goods, and Magnit, as a future shareholder, is ready to assume such obligations.

"The share of the acquirer's group of persons in the food retail market by the end of 2024 does not exceed 25% in the territory of any of the administrative-territorial entities in which the acquired retail facilities are located," the FAS added and noted that the transaction would not limit competition in the market.

Whether to pay for goods broken in a store

Earlier, on April 30, Magnit acquired a controlling stake in the ABC of Taste network. After the deal is completed, it is planned to retain the ABC of Taste brand, as well as key management personnel. It is specified that representatives of the retailer will participate in the development of a management strategy for the acquired business.