June 13, 2013 / 12:20 PM / in 5 years

Russia's Lenta selects banks for possible IPO-sources

MOSCOW, June 13 (Reuters) - Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG and Russia’s VTB Capital, has selected banks for a possible 2014 initial public offering, two sources familiar with the situation said on Thursday.

The banks selected are: JP Morgan Chase & Co, Credit Suisse, UBS, Deutsche Bank and VTB, the sources said. The IPO is expected to be in 2014.

Sources familiar with the matter have said that Lenta was talking to banks about a possible London listing which could raise at least $1 billion and could command a valuation of over $5 billion.

Lenta was not immediately available for comment. TPG, JPM, Credit Suisse and VTB declined comment. UBS and Deutsche did not immediately provide comment.

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