Turkish company FLO Retailing (owner of Russian Reebok) and Lebanese Azadea Group (owner of Dubai Mall complex) could buy French chain Decathlon’s business in Russia. Relevant negotiations are currently ongoing. In this respect to write Vedomosti, referring to resources in the real estate market and one of the retailer’s partners.
According to sources, two options are currently being considered for the deal. The first is the acquisition of the entire Russian network by the investor and the reopening of Decathlon stores according to the franchising model, the second is the same, but the closure of some outlets. According to preliminary estimates, the deal may not be completed until autumn. However, it is unknown whether there are other potential buyers of Decathlon’s assets in Russia.
At the same time, Decathlon refused long-term leases of facilities where the contract could be terminated without specific penalties. One of Decathlon’s partners pointed out that the organization still has a margin of safety to wait and negotiate.
Market experts were unable to make an accurate assessment of all the company’s assets. Some experts estimated assets at 3-4 billion rubles, while others pointed to the amount of 8-10 billion rubles. However, they noted that only non-franchise properties under the Decathlon brand will not attract the attention of investors.
May 12, Deputy Head of the Ministry of Industry and Trade of the Russian Federation Viktor Evtukhov knowledgeable The French company reported that Decathlon has not disclosed its plans to end or sell its business in Russia, despite reports that several stores have been sold. Yevtukhov emphasized that the company continues to pay rent and salaries to its employees in Russia.