MOSCOW, April 6 (RIA Novosti) - Pyaterochka Holding N.V. (LSE: FIVE), whose sales hit $1.34 billion in 2005, is negotiating a merger deal with the Perekriostok supermarket chain, a company spokesman said Thursday.
Pyaterochka, Russia's largest grocery retailer, said it was seeking expansion on the Russian retail market, one of Europe's largest.
"Pyaterochka is in talks with Perekriostok, which could lead to a merger of the two companies," the spokesman said.
Perekriostok, whose sales totaled 7.37 billion rubles ($267.7 million) in 2005 declined to comment on the issue.
In May 2005, Pyaterochka launched an IPO on London Stock Exchange, attracting about $600 million for the chain's further expansion.
