By John Smith • Published: 27 Dec 2019 • 16:49
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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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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