Magnit Company News - Magnit agreed to acquire DIXY for RUB 92.4 bn
-Magnit agreed to acquire DIXY retail chain operating 2,651 stores-Deal price is based on EV of RUB 92.4 bn
-DIXYs valuation for the deal on EV/sales looks cheaper comparing to Magnit, but we think that this may be justified by the formers lower profitability
-We consider this news to be neutral at the moment as we think that DIXYs integration will be a long process
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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