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. Last Updated: 07/27/2016

Krasny Oktyabr Deal

MOSCOW -- Russia's biggest confectioner Krasny Oktyabr, said Tuesday that it had finalized the purchase of the St. Petersburg candy factory Petroconf from Kraft Jacobs Suchard.

"Today we are announcing ... a transfer to our property of 99.87 percent of shares," said Pavel Cherepanov, a member of Krasny Oktyabr's board.

He declined to say the price for which Krasny Oktyabr acquired the unit. The factory will soon be renamed, with a version of its Soviet name, as ZAO Samoilova Candy Factory.