Report: Lenta stakeholders, including TPG, may float part of stake

MOSCOW, Feb 15 (PRIME) -- U.S.-based TPG, the biggest shareholder of Russia’s grocery retailer Lenta, intends to float part of its stake, Reuters news agency said citing several banking sources late on Tuesday.

One of the sources said the retailer plans to meet with investors soon. Lenta earlier said it plans to release a 2016 financial report and to hold an investor day in London on Thursday.

TPG said it intends to reduce its stake, but a final decision will be made following the investor meetings, Reuters reported quoting a banking source. Three more sources confirmed the information.

A source also said that TGP may not be the only shareholder planning to sell its stake. The retailer’s second biggest investor is the European Bank of Reconstruction and Development, holding a 7.37% stake.

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