STAR acquires Fresh supermarket chainSeptember 6, 2011 - 17:29 AMT PanARMENIAN.Net - The negotiations on purchasing “Fresh” supermarkets by STAR trade chain are over. The parties have already finalized the agreement. Before the legal implementation, the agreement needs to be confirmed by the State Commission for the Protection of Economic Competition of the Republic of Armenia. “Purchase of “Fresh” supermarkets will enable the increase of STAR sales volume as well as reduction of logistic, distribution and administrative expenses thus boosting work efficiency, through cutting the expenses by 15-20% in the united trade chain,” the executive director of STAR trade chain Vahan Kerobyan said. Legal implementation is expected to be completed within 1 month to be immediately followed by strategic program development. In the nearest future, the company will hold a news conference to announce transaction details and the further development plans of the company, STAR press service reported. At present, STAR trade chain operates 18 supermarkets, 17 in Yerevan and one in the town of Hrazdan; “Fresh” supermarkets chain operates 4 supermarkets under “Fresh” brand and 3 stores under “Catherine” brand in Yerevan. STAR plans on opening a new store in Davtashen administrative district. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |