"Delta Holding" and Russian "Finstar" founded joint venture - 700m EUR to be invested in market chains in Ukraine and Belarus within next five years

(Miroslav Mišković)

International investment holding "Finstar" and company "Delta Holding" have signed the agreement on founding the joint venture that will deal with the development of market chains in Ukraine and Belarus. This was announced today (July 2, 2008) in Moscow.

According to the agreement, six supermarkets "Smak" in Ukraine, of which owner is fund "Finstar", will replace their name with the name of "Maxi". New facilities will be called "Maxi" and "Tempo", after "Delta's" supermarkets.

According to the official announcement of holding "Finstar", the investment of the partner in supermerkets and purchase and construction of new ones in the countries that are mentioned in the contract may reach 700m USD within the next five years.