TPG-backed Russian grocer Lenta eyes London listing to raise US$1bil

MOSCOW: Russian hypermarket chain Lenta, part-owned by US private equity firm TPG and Russia’s VTB Capital, is talking to banks about a possible London listing which could raise at least US$1bil, sources familiar with the matter said.

The move could produce a rare success story for a US buyout firms in Russia, giving TPG the opportunity to exit an investment it made in 2009.