German grocery retailer Rewe is planning to invest $500m over the next three to five years in its Russian expansion, with plans to open more than 50 stores with retail areas covering 2,500 sq m.

It signed a joint venture with Marta in July 2004 and 20 of its stores, with a combined turnover of $150m will be carrying the Billa logo by the end of the year.

Marta is reported to be negotiating the acquisition of the Moscow-based Prodmak supermarket chain