German retailer to sell Russia business after worker rebellion - media ...News

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German retailer to sell Russia business after worker rebellion - media
Deal reached after employees refused to shut down OBI outlets in Russia The German DIY retailer OBI will transfer its Russian chain into trust management to be sold later, business daily Vedomosti reported on Tuesday. The decision follows several weeks of an open confrontation between the Russian management of the chain and the parent company. The majority shareholder of the chain – the German holding OBI GmbH – announced a suspension of its business in Russia on March 8, along with hundreds of other foreign companies that decided to leave amid Western sanctions. The local management defied the decision of the par

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