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Sberbank Loans LSR $140M

Russian property developer LSR will get a loan of 4 billion rubles ($140 million) from state-controlled bank Sberbank in 2011, LSR's chief executive Alexander Vakhmistrov said Monday.

The company, which builds low-cost housing in St. Petersburg and Moscow, is trying to cash in on the  market recovery, and more than doubled its portfolio of completed buildings in 2010.

(Reuters)

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