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. Last Updated: 07/27/2016

Business in Brief

Dixy Sets IPO Range

Russia's fourth-largest supermarket chain, Dixy, has set the price range for its domestic initial public offering at $16.5 to $22.0 per share, the company said in a statement Thursday.

The pricing is expected on May 16 or 17. Dixy hopes to raise $350 million to $400 million.

Deutsche Bank and Renaissance Capital are joint global bookrunners and joint global coordinators for the issue, and Trust Investment Bank is co-lead manager.

Dixy had 333 stores on April 15, 2007, its statement said. In 2006 it consolidated revenue of $1 billion and gross profit of $210 million. (Reuters)

EU Energy Crisis Group

BRUSSELS -- The European Union created a new group of experts on Thursday to help coordinate action and exchange information in times of energy crises.

The Network of Energy Security Correspondents includes representatives from the 27 EU nations and the executive European Commission with a mandate to provide an "early warning" when risks to EU energy supplies emerge.

Officials called the group a step forward in the EU's efforts to speak with one voice on energy issues. (Reuters)