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Russia's Wimm-Bill-Dann may continue buybacks-CEO

Fri Jun 5, 2009 2:01am EDT

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ST PETERSBURG, Russia, June 5 (Reuters) - New York-listed Russian juice and dairy maker Wimm-Bill-Dann (WBD.N) will continue to buy back its shares on the stock market to support the share price, its chief executive said on Friday.

David Iakobashvili said the company, Russia's largest in the sector, had bought back 3.2-3.6 percent of its shares.

"We have already acheieved our aims and from here it will depend on market prices," Iakobashvili said.

He said the company, acquisitive in recent years, continued to look for acquisition targets but many were too highly leveraged and their acquisition could threaten compliance with debt covenants, he said. (Reporting by Polina Devitt; writing by Melissa Akin; editing by Robin Paxton)



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