June 27 (SeeNews) - Bulgaria-based furniture retailer Falcon Home Distribution has acquired a 50.5% stake in Russian household supplies store chain Moshoztorg for an undisclosed price, Russian media reported.
The majority stake, previously held by Veronika Kiryanova, is now held by Falcon Home Distribution's owner, Azerbaijani businessman Zaur Mishiev, following a deal signed on June 17, Russian news outlet Otkrytye Media reported on Wednesday.
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Moshoztorg reduced the number of its stores in Moscow by 15% to 65 at the end of 2018 following several lawsuits filed against the company and imposed fines for unpaid rents and deliveries, Otkrytye Media said.
The store chain, which started operating in 2014, currently has 34 stores in the Russian capital, according to data by Moshoztorg.
Falcon Home Distribution, founded in 2018 in Sofia, is specialised in the retail sales of furniture, clothes, shoes and household appliances.