MOSCOW, March 29 (Reuters) – Sberbank SBER.MM, Russia’s largest lender, stated on Monday it had elevated its stake in Fortenova Group to round 44% by swapping its shares in Slovenian meals retailer Mercator.
Within the cash-free transaction, Sberbank raised its stake in Fortenova Group, which operates in retail, meals manufacturing and agriculture in southern Europe, by 4%, bringing it to 44%, the financial institution stated.
It stated it had used its put possibility on its 18.5% stake in Mercator to finish the transaction.
Fortenova, previously generally known as Agrokor, was saved from chapter in a restructuring deal which included a change of the identify and the possession construction.
(Reporting by Tatiana Voronova; Writing by Gabrielle Tétrault-Farber; Enhancing by Lisa Shumaker)
((Gabrielle.Tetrault-Farber@thomsonreuters.com;))
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