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5 The Regions This Week 9 Chart
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May 3, 2019 www.intellinews.com
Mordashev's Severgroup completes Lenta acquisition despite Magnit bid
bne IntelliNews
Severgroup of steel tycoon Alexei Mordashov has completed the acquisition of 41.9% of Russian retailer Lenta and is expected to make a binding buyout offer to minority shareholders, which was part of the deal, Lenta reported to the London Stock Exchange.
Investment flows into EMs up – except Russia
bne IntelliNews
Non-resident investment flows into emerging markets (EM) equity was up in April to $38bn in April, except Russia which saw $2.8bn of outflows as sanctions fears reappear, the Institute of International Finance (IIF) said
in a note on May 1.
Russian steel tycoon Alexei Mordashov completed the acquisition of 41.9% of Russian retailer Lenta and will buy out minority shareholders
The acquisition by Severgroup was carried through despite minority shareholders questioning the deal and urging the board of directors to study a competing offer from rival retailer Magnit, which proposed a slightly higher share price and could have brought retail
See page 2
EM stocks, other than China and Russia, which are seen as special cases, were attracting portfolio investors’ attention in the first quarter of this year thanks to the softening of credit policy by the US Federal Reserve bank.
See page 4