April 1, 2019 / 10:41 PM / 24 days ago

Russian steel tycoon buys 41.9 pct stake in Lenta

MOSCOW, April 2 (Reuters) - Russian steel businessman Alexey Mordashov has reached a definitive agreement to buy a 41.9 percent stake, excluding treasury shares, in Russian retail chain Lenta from TPG Group and the European Bank for Reconstruction and Development, his firm said on Tuesday.

Mordashov’s firm Severgroup will buy the stake for a total cash consideration of $729 million, it added in a statement. (Reporting by Polina Devitt in Moscow Editing by Matthew Lewis)

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