NEWS & VIEWS

Global private equity and venture capital news and research

TPG, VTB-backed Lenta eyes £1bn London IPO

29 May 2013

LentaPrivate equity-backed Russian grocer Lenta has reportedly begun talks with bankers over a potential London IPO which could raise £1bn.

The business, which is part-owned by TPG Capital and VTB Capital, could list on the London Stock Exchange as soon as the last quarter of 2013 according to the FT, which cited a person with knowledge of the plan.

It said other sources believed a listing was unlikely to happen this year.

TPG and VTB are believed to have picked up a 44 per cent stake in Lenta from August Meyer in 2011 for about $1.1bn.

That purchase brought to an end a long-running fight for ownership of the business.

The TPG/VTB partnership’s original $100m investment four years ago sparking a violent brawl between rival investors at a board meeting in September a year later, raising a sustained dispute over the company’s management strategy.

The partnership initially acquired a 35.4 per cent stake in Lenta in October 2009.

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014