Lenta CEO: Antitrust clears Severgroup to buy TPG Grp, EBRD stakes

MOSCOW, Apr 25 (PRIME) -- Russia’s Federal Antimonopoly Service has cleared investment company Severgroup of tycoon Alexei Mordashov to buy stakes in grocery retailer Lenta from TPG Group and the European Bank for Reconstruction and Development (EBRD), Lenta CEO German Tinga said in a conference call on Thursday.

“The Federal Antimonopoly Service has issued a positive decision on a deal between TPG, the EBRD and Severgroup. The mandatory buyout offer will be made no later than May 1,” he said.

Lenta has received no other offers since the deal with Severgroup was announced on April 1. If Lenta receives such an offer, the company will consider it and inform the market in line with the current rules, he added.

Earlier in April, Severgroup agreed to buy a 41.9% stake in Lenta for around U.S. $729 million from TPG Group and the EBRD.

But then Lenta said Magnit wanted to buy 100% in the company at $3.65 per global depositary receipt compared with Severgroup’s $3.60, and Magnit said that Lenta had not responded to the offer.

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