MOSCOW Jan 31 Russian hypermarket chain Lenta,
part-owned by U.S. private equity firm TPG, will
announce plans for an initial public share offering on Monday, a
source close to the deal said on Friday.
Financial market sources also said they expected the deal to
be announced on Monday.
Sources familiar with the matter previously said that Lenta
was talking to banks about a possible London listing, which
could raise around $1 billion for its shareholders and command a
valuation of over $5 billion.
The sale could produce a rare success story for a U.S.
buyout firm in Russia, giving TPG the opportunity to exit an
investment it made in 2009.
TPG owns a 49.8 percent stake in Lenta, while Russian bank
VTB holds 11.7 percent and the European Bank for
Reconstruction and Development 21.5 percent.
The banks advising on Lenta's IPO are JP Morgan Chase & Co
, Credit Suisse, UBS, Deutsche Bank
and VTB, sources previously said.