Private equity-backed Russian hypermarket chain Lenta is reportedly preparing for an IPO on the London Stock Exchange.
A source told Reuters that “the deal is proposed to be done before end of February but there is no decision yet.” Another person said that the flotation was planned for next month, according to the report.
Lenta is backed by private equity firm TPG and Russia’s VTB Capital.
Last year it was reported that Lenta hired JP Morgan, Credit Suisse , UBS, Deutsche Bank and VTB for an IPO that it expected to raise £1bn.
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.
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