Wal-Mart restarts negotiations to buy Russian Lenta
WMT | Quote | Chart | News | PowerRating -- US retail operator Wal-Mart (NYSE:WMT) said on 6 April 2009 that it has
re-initiated the discussions on the purchase of a controlling stake in
Russian hypermarket network Lenta, Dow Jones reported, quoting Russian
daily Kommersant.
According to the Russian newspaper, Wal-Mart has talked to Lenta
stockholders Oleg Zherebtsov who has 35% in the hypermarket chain, the
European Bank for Reconstruction and Development (EBRD) controlling 11%
and Loren Bough which holds 6%.
Zherebtsov has been reportedly seeking a potential buyer for its Lenta
shareholding since February and has made contacts with private equity
funds Russia Partners, Warburg Pincus, TPG Capital, Apax Partners and
BC-Partners.
Sector: Retail
Type: Stake building
Target: Lenta
Buyer: Wal-Mart
Status: In talks
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