Hogan Lovells and Skadden, Arps, Slate, Meagher & Flom took lead roles on the biggest-ever deal in the Russian retail sector — a merger aimed at thwarting Wal-Mart’s attempts to enter the Russian market.
On Monday, X5 Retail Group, the owner of Russian discount chain Pyaterochka, agreed to buy the Moscow-based Kopeyka retail chain for $1.65 billion, according to X5′s statement and Legal Week, a sibling publication. Bloomberg Businessweek reports that Wal-Mart had been trying to acquire Kopeyka, but couldn’t reach an agreement.
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