Euro Weekly News Spain: New day for Dia

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Russian entrepreneur Mijaíl Fridman Credit: LetterOne Group Creative Commons

HAVING purchased a large percentage of the shares in the Spanish Dia Supermarket chain during 2019, Russian entrepreneur Mijaíl Fridman is stepping up his campaign to return the company to profit.

From early 2020, the bulk of the businesses and assets within the group will be transferred to different subsidiaries in Luxembourg in order to ensure that it is able to continue to trade during the coming year.

In addition, some of the debts will also be transferred but taxes will continue to be paid in each of the countries in which Dia operates.

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