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BIC advised a client in a major M&A transaction in the Ukrainian Retail Sector
19/07/2006

Baltic Investment Company (BIC) represented the owners of Ukrainian health and beauty retail chain DC, in the sale of a company to A.S. Watson Group, the retail division of Hutchison Whampoa Limited (HWL), for an undisclosed consideration.

Hutchison Whampoa, the listed Hong Kong conglomerate, has acquired 65% in Ukrainian health and beauty retail chain, DC, a company press release stated.

A.S. Watson Group today announced that its move into the Ukraine market by acquiring a 65% stake in the country's No. 1 health and beauty retail chain, DC. This acquisition* is part of the A.S. Watson Group's continued expansion into Central and Eastern Europe, following its recent establishment in Russia, the Baltic States and Slovenia. It also creates a partnership with Asnova Holding, a leading wholesale and logistics player in Ukraine. DC is the largest chain in the country in terms of store number and the only nationwide health and beauty retail chain in Ukraine. It was established in 1997 and has grown quickly to the current network of 99 stores with approximately 2,300 employees throughout the country. It is operated under the format of a convenience drugstore, offering a comprehensive mix of personal care and toiletry products.

BIC provided financial advisory services to Asnova Holding, the owners of DC. By this transaction, which is the first strategic investment deal in the Ukrainian retail sector, BIC strengthened its leading position in providing M&A advisory services in Ukraine, Russia and the Baltics.

* The acquisition is subject to anti-monopoly approval

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The deal was sucessfully closed on 07/11/2006.



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