German retail group Rewe has completed its acquisition of Russia-based group Billa after taking on the final 25 per cent stake.
Rewe purchased the final 25 per cent in the company that it did not own from the bankrupt holding Marta, with whom Rewe had initially formed a joint venture with to operate Billa.
Marta entered bankruptcy in early 2009, Kam City reported, with Rewe forced to open new outlets under the BIOP banner as a result of legal restrictions.
According to the report, Rewe will now convert its 21 BIOP outlets to the Billa banner.
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