The X5 Retail Group N.V. (FIVE.L), has divulged that the Russian Federation's Ministry of Industry and Trade has moved forth with a claim to suspend the corporate rights of the X5 Retail Group N.V. in the X5 Corporate Centre LLC. The case is set to be heard by the Arbitrazh Court of Moscow Region, with proceedings scheduled for April 23.
At the end of 2023, the X5 Retail Group boasted a sizable portfolio of 24,472 company-operated stores. The group has managed to secure a dominant market position in the key territories of Moscow and St Petersburg, and has also significantly expanded its presence into other parts of the European region in Russia.
