X5 Retail Group NV, the largest (by sales), the Russian off-line retailer, has created a joint venture with the owners of internet-shops and 003.ru Bolero.ru. X5 51% of the new legal entity. In the company "IT Business transferred key personnel of online stores, as well as the rights to domains (003.ru and Bolero.ru), equipment, call-center software, customer databases and the right to lease storage capacity. NAV X5 Retail Group NV, as reported by RIA Novosti news agency referring to representatives of the retailer, is $ 1 million, while the X5 has the ability to buy the remaining 49% within 5 years. The redemption price will be determined on a pre-agreed formula depending on the operating and financial performance.
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