OREANDA-NEWS. March 18, 2011. OJSC DIXY Group and VTB bank have reached an agreement on a revolving two-year credit line of 2 billion rubles. The money will be used to finance ongoing operations.

VTB Vice President Yuriy Soloviev: "We are glad to cooperate with one of the leading FMCG companies in Russia. There is no doubt that the received finance will help strengthening Group's business what in return will favor Russian FMCG market development".

Fedor Rybasov, DIXY Group's General Director noticed that "the agreement and successful partnership with one of the leading Russian banks is a good support for the Group's liquidity and a base for our plans realization - operational efficiency improvement and further business development".

OJSC DIXY Group (RTS, MICEX: DIXY) is one of Russia's leading retailers of foods and everyday products.

The first DIXY store opened in 1999 in Moscow. As of February 28, 2011, the Group operated 651 stores, including 628 DIXY neighborhood stores, 15 MEGAMART (compact hypermarket) stores and 8 MINIMART (supermarket) stores in three Federal Regions of Russia: Central, Northwest and Urals.

In May 2007 the Company raised USD 360 Million in its IPO on RTS and MICEX. The controlling stake in OJSC DIXY Group (63.37%) is owned by the Mercury Group of Companies, a diversified holding company.

In 2010, DIXY's total revenue reached RUR 64.7 billion. The Company has a total of 228,644 square meters of selling space and employs more than 18,000 people.

The Russian business magazine "Expert" estimates DIXY Group as one of Top-100 Russian biggest companies.