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Obi acquires shares from its Russian joint venture partner. This is reported by the German Internet service Ostexperte.de which refers to the Russian daily newspaper Kommersant. According to which, the German market leader is taking over 49 per cent of the shares in SSR from the previous shareholder Igor Sossin. SSR transcribes as Sdelaj swoimi rukami and is translated as "Do it by hand".
Obi has been active in Russia since 2003 when it founded the joint venture of which it owned 51 per cent until now. According to press reports, sales in the joint venture company dropped by ten per cent to RUB 39 bn in 2015. The market research company Infoline estimates that 60 per cent of Obi's sales in Russia and up to 90 per cent of its net profit came from SSR.
Igor Sossin is also founder of Starik Khottabych. This furnishing chain has been active in Russia since 1994 and had also been operating the Stroydepot DIY network since 2006 before it disappeared from the market in 2014 however.
Obi has been active in Russia since 2003 when it founded the joint venture of which it owned 51 per cent until now. According to press reports, sales in the joint venture company dropped by ten per cent to RUB 39 bn in 2015. The market research company Infoline estimates that 60 per cent of Obi's sales in Russia and up to 90 per cent of its net profit came from SSR.
Igor Sossin is also founder of Starik Khottabych. This furnishing chain has been active in Russia since 1994 and had also been operating the Stroydepot DIY network since 2006 before it disappeared from the market in 2014 however.
