PRESS: Founder, ex-owner of Magnit sets up investment fund

MOSCOW, Sep 12 (PRIME) -- The founder and former core owner of Russian grocery retailer Magnit Sergei Galitsky has set up an investment fund, Kommersant business daily reported on Wednesday citing financial market sources.

The sources declined to disclose the name of the fund and its capital.

According to the Unified State Register of Legal Entities materials, Galitsky established SN Capital in Krasnodar in June to provide financial services. The company’s director is Dmitry Chizhevsky. Several food producers of Russia’s southern regions may become the company’s first investors, but no projects are available yet, Kommersant said.

The daily said it failed to get in touch with Galitsky or his representatives.

Galitsky is reported to control food-producing projects not linked directly with Magnit. He is the owner of Krasnodar-based confectionery company Constell Group and Russky Torroire which planned to make wine in the Krasnodar Region.

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