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Russia's Lenta may sell existing shares in public offering -sources
February 14, 2017 / 2:49 PM / 9 months ago

Russia's Lenta may sell existing shares in public offering -sources

MOSCOW, Feb 14 (Reuters) - Russian food retailer Lenta may sell some of the shares held by its biggest shareholders in a public offering in the near future, three banking sources told Reuters on Tuesday.

Two of the sources said U.S. private equity fund TPG, which owns 34 percent of Lenta’s shares, was expected to sell a part of its stake.

“TPG has indicated its intention to reduce its stake,” one of the sources said, adding that the final decision will be made after investor meetings which are expected to start shortly.

The third source did not rule out that the European Bank for Reconstruction and Development (EBRD) could also reduce its 7.37 percent stake in Lenta.

Lenta declined to comment. TPG and EBRD did not immediately provide a comment in response to Reuters request. (Reporting by Katya Golubkova, Olga Popova, Olga Sichkar and Maria Kiselyova; Editing by Jack Stubbs)

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