X5 Retail Group (MCX:FIVEDR) has reached an agreement with Finnish holding SOK Retail Int. OY, which had previously announced that it would cease its trading activities in Russia, to acquire the company that operates supermarkets under the Prisma brand in St. Petersburg, as well as a culinary shop.

The deal will include 15 supermarkets and will resume operations by mid-July after the completion of necessary legal actions, minimal rebranding, and filling the stores with X5 inventory, the retailer said in a statement. Almost all stores will be integrated into the Perekrestok retail chain.

X5 will take over the rights and obligations of the legal entity (except for the rights to Prisma trademarks), which previously operated the Prisma retail chain in St. Petersburg. One of the main conditions of the transaction was the preservation of jobs for the operating personnel of the Prisma chain and fulfillment of obligations to its main partners, including landlords.

The Federal Antimonopoly Service (FAS) of Russia approved the corresponding application of X5 on June 15.