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M&A - Europe

TPG sees Russia opportunities after Opel deal

SOCHI, Russia, Sept 18 (Reuters) - TPG [TPG.UL], one of the world’s largest private equity funds, said on Friday it was seeing new opportunities in Russia after a Russia-Canadian group bought control of General Motors’ [GM.UL] European arm, Opel.

Canada's Magna MGa.TO and Russia's Sberbank SBER03.MM won a deal for control of Opel last week after months of fraught negotiations that had weighed on Opel and its 50,000 workers. [ID:nLA668553].

TPG’s founding partner, David Bonderman, told Russian Prime Minister Vladimir Putin that TPG was keen to grow the business of the recently acquired Russian retailer Lenta and airline Avianova and saw possibilities for getting involved in the Opel deal.

“We are hopeful that the GM-Sberbank-Magna deal will be another key investment in Russia as we go forward,” he said, without elaborating. (Reporting by Gleb Bryanski, Writing by Dmitry Zhdannikov, editing by Maria Kiselyova)

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