Zara Owner Gets Approval to Sell Russian Business to UAE’s Daher
A Zara store in Moscow.
Source: Bloomberg
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Inditex SA, which runs the Zara and Bershka clothing chains, obtained approval to sell its business in Russia to Daher Group of the United Arab Emirates.
Russia’s commission on foreign investments approved the Zara owner’s withdrawal at the end of March, Deputy Minister of Industry and Trade Viktor Evtukhov said in an interview on state TV Wednesday.