Germany's Rewe takes control of Lithuanian supermarket chain Iki
Germany's retail giant Rewe has increased its stake in Palink, the owner of Lithuania's largest supermarket chain Iki from 55.58 percent to 93.75 percent, Palink said on Wednesday.
Palink CEO Gerard Rog unveiled plans to open 20 new Iki stores and renovate some 50 existing ones in the next two years.
Iki currnetly holds a 16 percent market share in Lithuania and is the country's second-biggest retail chain after Maxima.
"We are convinced that this step will furt