Wal-Mart, Carrefour, Finland’s Kesko and Croatia’s Agrokor Group are reported to be among the leading candidates vying to buy a controlling stake in Lenta, the largest hypermarket chain in Russia.
According to Russian daily Vedomosti, the companies are competing to acquire 89 per cent of Lenta’s shares, in a potential sale which has been estimated to be worth €1.2bn, including €323m in debt.
Lenta owns a chain of 31 hypermarkets in the country, 14 of which are located in the city of St Petersburg. The retailer recorded sales of €970m last year.
Of the four companies said to be interested in acquiring Lenta, only Kesko has a retail presence in the country in the shape of a St Petersburg-based chain of do-it-yourself stores, which it bought in 2004.
No comments yet