X5 Retail Group Faces Suspension in Russian Subsidiary

X5 Retail Group N.V. (GB:FIVE) has released an update.

X5 Retail Group N.V. has announced that the Arbitration Court of the Moscow Region has ruled to suspend the company’s corporate rights in its Russian subsidiary, X5 Corporate Centre LLC, following a claim by Russia’s Ministry of Industry and Trade. The decision requires Russian shareholders to accept a distribution of shares, while non-Russian shareholders have an option to do so, with undistributed shares potentially returned to the company or compensated in cash after December 31, 2024. The company is assessing the impact of this ruling and will update its shareholders on the implications and its response plan.

For further insights into GB:FIVE stock, check out TipRanks’ Stock Analysis page.