Turkish footwear company FLO Magazacilik is in talks to buy more than 100 stores previously owned by Reebok in Russia, Flo’s president Mehmet Ziylan said.
Ziylan stressed that the agreement has not yet been finalized, refuting a report by the Russian Kommersant, that the company has already taken over the activities.
“We are talking, but there is nothing more specific,” he told Reuters.
Kommersant cites a source close to the Turkish company and stresses that the deal has been finalized and more than 100 Reebok stores in Russia have been taken over by the Turkish company.
In March, Reebok suspended all stores and e-commerce activities in Russia.
The deal is expected to raise concerns that businesses in Russia and non-Western countries are gaining valuable assets as Western companies rush to comply with sanctions over the Ukraine conflict, as well as threats from the Kremlin that to seize foreign assets.
Last month, Anheuser-Busch InBev said it planned to leave Russia by selling its interests to a joint venture with Turkish Anadolu Efes, which operates in Russia and Ukraine, and expects to receive $ 1.1 billion in debt. dollars.
Source: Capital
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