Lenta shareholder dispute may be resolved

Private Equity firm TPG and VTB bank may take control of Russian retailer Lenta after agreeing to buy shares from its majority owner August Meyer, The Moscow Times reported. «We have not signed anything yet. If it happens, I will probably keep some shares […] I would probably keep 10% plus if it happens,» Meyer said.

Lenta, which has been touted as a possible takeover target for Walmart and Carrefour, has been the subject of a protracted shareholder dispute between the TPG/VTB alliance and Meyer that has lasted for at least a year. Meyer, owner of 44.04% of the St Petersburg-based retailer, offered to buy out TPG and VTB in March in a bid to end the row.

Planet Retail