Razgulyai founder Igor Potapenko sold 21.4 percent of the Russian grain and sugar producer to Avangard Asset Management for “close to the market price,” Razgulyai said Friday.
Moscow-based Avangard Asset Management, which is privately held, has an option to buy an additional 8.56 percent stake, Razgulyai said in a statement on its web site.
Potapenko now owns 25.3 percent. Razgulyai had a market capitalization of 7 billion rubles ($230 million) based on Friday’s share price.
(Bloomberg)
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