Russian retailer Lenta plans London market debut in February-sources

MOSCOW Fri Jan 24, 2014 3:51am EST

MOSCOW Jan 24 (Reuters) - Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG and Russia's VTB Capital, plans a stock market flotation in London before the end of next month, two financial market sources said on Friday.

"The deal is proposed to be done before end of February but there is no decision yet," one source close to the deal said. Another source also said the deal was planned for February.

Lenta declined to comment.

Last year, sources familiar with the situation told Reuters earlier Lenta had picked JP Morgan, Credit Suisse , UBS, Deutsche Bank and VTB for a possible London stock market debut that could raise at least $1 billion.