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. Last Updated: 07/27/2016

X5 Retail Places Bid for Ramstore Chain

X5 Retail Group, a food retailer, has bid for Ramstore, the supermarket chain owned by Turkey's Koc Holding, Vedomosti reported Monday, citing an unidentified banker familiar with X5 plans.

Koc, which is selling its Migros Turk retailing unit, may dispose of the Turkish and Russian stores separately, the newspaper said, citing Koc's Chief Executive Bulent Bulgurlu. X5 Chief Executive Officer Lev Khasis and spokesman Gennady Frolov declined to comment on the bid, Vedomosti said. Maria Nikitina, a spokeswoman for Ramstore's Russian parent Ramenka, also declined to comment.

Ramstore has 53 supermarkets and 11 shopping centers in Russia and generated $592 million in revenue last year, according to the newspaper. The chain runs about 560 outlets in Russia, Azerbaijan, Bulgaria, Kazakhstan and Macedonia, Vedomosti said.