February 3, 2014 / 7:10 AM / 4 years ago

Russia's Lenta says to float in London

MOSCOW, Feb 3 (Reuters) - Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG,, said on Monday it intends to float in London, tapping demand from investors for consumer-focused stocks buoyed by a rising middle class.

The move could produce a rare success story for a U.S. buyout firm in Russia, giving TPG the opportunity to partly exit an investment it made in 2009.

Lenta will be competing for investor attention with German retailer Metro AG, which plans to sell up to a quarter of its Russian cash-and-carry unit in a London listing to raise funds to invest in the fast-growing business and pay down debt.

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