Russian food retailer X5 Retail Group has agreed to buy the Korzinka retail chain of 22 stores for $115 mln (EUR 80 mln), including debt. X5 said 15 of Korzinka's stores will be integrated into its discount format and six into the supermarket format while one store will be added to its hypermarket network. The total area of the Korzinka outlets is 38,007 m2, X5 noted, of which 12,352 m[sup]2[/sup] are owned, while the average lease length for the remaining space is 10 years. The net selling space represented by the outlets is 19,966 m[sup]2[/sup].
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