Fund Buys Razgulyai Stake

By The Moscow Times

Oct. 24, 2010

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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