Milner Selling Mail.ru Stake

By The Moscow Times

Sep. 20, 2011

Mail.ru Group chairman Yury Milner is seeking as much as $60.7 million in a share sale of the Russian backer of Facebook.

Goldman Sachs Group is the sole manager of the sale, according to the term sheet. The amount is based on the Sept. 19 close of $35.72 per global depositary receipt. The shares are currently being offered at $34 to $35.25 apiece, according to a person familiar with the process, as much as 6.6 percent lower than Tuesday's last trade.

Mail.ru also holds Internet investments such as online gaming company Zynga and shopping web site Groupon. Chief executive Dmitry Grishin said last month that Mail.ru might sell some of its shares in Groupon and Zynga if those companies hold initial public offerings.

(Bloomberg)

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