Russia-China Invest Fund buys 23% in Detsky Mir for 10 bln rbl

Prime News, 10.01.2016

MOSCOW, Jan 11 (PRIME) -- The Russia-China Investment Fund (RCIF) has closed a 9.75 billion ruble deal to acquire a 23.1% interest in children goods retailer Detsky Mir from multi-industry holding AFK Sistema, an official of the Russian Direct Investment Fund (RDIF) told PRIME January 4.

“Partnership with Sistema and Detsky Mir opens big opportunities for the RDIF and we are glad to drive it to a new stage of development and to foster further international development of the group of companies Detsky Mir, including China and other countries,” RDIF Chief Kirill Dmitriev said, as quoted by the fund.

“The deal fully corresponds to our investment strategy focused on the rise of the middle class and its demand for goods, most of all, in regions.”