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Russia's O1 Properties in talks to sell 'significant stake' to Chinese investor: sources
September 19, 2017 / 10:19 AM / in a month

Russia's O1 Properties in talks to sell 'significant stake' to Chinese investor: sources

MOSCOW (Reuters) - Russia’s O1 Properties, one of the largest commercial property owners in the country, is in talks with a Chinese investor to sell a stake in the company, three people familiar with the talks said.

O1 Properties owns and manages 15 business centers in Moscow with a total value of around $4 billion, according to the company. Businessman Boris Mints and his family own a majority stake in O1 Properties, while global lender Goldman Sachs (GS.N) is among other shareholders.

Two sources said the Mints family is in talks over the sale of a “significant” stake in the company. All three sources declined to name the investor that O1 is in talks with.

In reply to a Reuters request for comment, O1 Properties said it is regularly approached by different companies, including foreign ones, that consider investing into the Russian commercial property market.

“But there are no talks about specific deals at the moment,” an O1 Properties spokeswoman said.

After several years of splashy overseas acquisitions, China has tightened the screws on deals abroad and has leant on banks to reduce lending that helped fuel the buying spree.

Writing by Katya Golubkova; Editing by Andrey Ostroukh

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