X5 Retail Group N.V. (GB:FIVE) has released an update.
X5 Retail Group N.V., a prominent Russian food retailer, has announced that the Arbitration Court of the Moscow Region has ruled to suspend its corporate rights in its Russian subsidiary, following a claim by the Ministry of Industry and Trade of Russia. The suspension affects shareholder rights and the transfer of shares, with Russian holders required to accept shares distribution, and non-Russian holders given an option to do so. The company is assessing the implications and legal options, ensuring that the decision does not affect its retail operations in Russia.
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