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Wednesday, March 22, 2023

AFK Sistema has changed its mind on the purchase of 47% of the retailer Melon Fashion Group

AFK “Sistema” has mixed to buy 47.7% of retailer Melon Fashion Group, which is headquartered in St. Petersburg. The retailer owns clothing brands Zarina, befree, Love Republic and Sela.

The termination of the agreement was announced by the Swedish company Eastnine, co-owner of Melon Fashion Group. The decision to suspend the purchase was made by mutual agreement between the parties.

A binding agreement on the deal was signed in October 2022. The purchase amount was to be 15.8 billion rubles.

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