PRESS: Russia’s O’Key shareholders in talks to sell retailer

MOSCOW, Dec 20 (PRIME) -- The owners of Russian retailer O’Key are in negotiations to sell their stakes in the company, business daily Vedomosti reported on Tuesday, citing four people who know participants of the negotiations.

Auchan and Lenta are among the interested, the sources said. One of them named Magnit as another contender.

The owners of the store chain need to finance their non-retail assets, hence the decision to sell O’Key, one of the sources said. According to data cited by Forbes, the shareholders own Georgian gold company Rich Metal Group and several development projects.

The key shareholders, businessmen Dmitry Korzhev, Dmitry Troitsky and Boris Volchek, and companies affiliated with them control 78.97% in O’Key, Vedomosti reported.

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