– Businessman Josef Liokumovich purchased a 60% stake within the Russian belongings of German ironmongery shop chain OBI for a nominal $10 sum after the Russian aspect settled money owed, the entrepreneur advised Forbes Russia in an interview printed on Monday.
Tengelmann retail group, which owns OBI, was not instantly out there for remark.
OBI GmbH mentioned in March that it was leaving Russia after Moscow despatched tens of 1000's of troops into Ukraine, and in late July, the Vedomosti newspaper reported that OBI had discovered consumers for its Russian enterprise.
Liokumovich advised Forbes he paid 600 roubles ($9.84) for the German chain of DIY shops, which incorporates 27 hypermarkets in Russia and employs about 4,900 folks.
In 2019, Liokumovich was in talks to purchase OBI‘s enterprise for 100 million euros ($102.3 million), he mentioned. Liokumovich mentioned he knew Karl-Erivan Haub, chief of Tengelmann, for years. Haub disappeared in 2018 when he didn't return from an off-piste snowboarding tour within the Alps.
Liokumovich didn't reveal who purchased the remaining stake in OBI‘s Russian enterprise, including solely that it was an “sincere accomplice” who was ready to develop the corporate.
He advised Forbes they'd settled greater than 30 million euros of debt with the Russian chain’s dad or mum firm, with out offering different particulars, and that they had been planning to develop the enterprise.
They may start the method of rebranding shops in September, Liokumovich mentioned, a key situation within the deal to promote OBI in Russia.
“We've the formidable process of creating a extra technological, extra customer-oriented, extra environment friendly firm, which can grow to be a outstanding participant in Russia’s DIY market,” Forbes quoted Liokumovich as saying.
OBI, which has greater than 640 shops in Central and Jap Europe, mentioned in April that its outlets in Russia had been and can stay completely closed because of Moscow’s actions in Ukraine.
Liokumovich mentioned the brand new firm will guarantee continuity in its operations, however will work with Russian suppliers and is planning to modify the background music performed in-store from international to Russian music.
($1 = 61.0000 roubles)
($1 = 0.9776 euros)
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