X5, Russia’s largest retailer, has completed the £1.05bn acquisition of domestic discount chain Kopeyka.

The group confirmed today that it had received clearance for the deal from the country’s competition authorities.

“Kopeyka is an excellent strategic and operational fit,” X5 said in a statement.

“This acquisition gives X5 the number one position in discounters in Russia, providing quality locations in Moscow, the surrounding region and other key geographic markets.”