OBI sells Russian business for €1 – media ...News

The DIY stores now belong to Russian MAX Group and businessman Josef Liokumovich German home improvement retailer OBI has signed an agreement with a group of Russian investors to dispose of its business in the country, Vedomosti reported on Saturday, citing sources close to the deal. According to the report, all six legal entities of the Russian OBI chain will be transferred to the ownership of Russian investment and construction conglomerate MAX Group (40% stake) and businessman Josef Liokumovich (60%). Under the agreement, MAX Group may later sell its part of the business to “third parties.” The sources said the

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