September 7, 2018 / 3:37 PM / 8 months ago

RTI takes control of Russian pensions firm FG Budushchee

Sept 7 (Reuters) - Russian pension fund manager FG Budushchee, which manages more than 300 billion roubles ($4.3 billion) in assets, said on Friday that it had been taken over by Riverstretch Trading & Investments (RTI).

FG Budushchee had been controlled by the family of businessman Boris Mints.

Control was transferred to Riverstretch as part of a settlement of debt held by O1 Group, another company owned by the Mints family, FG Budushchee said.

FG Budushchee had said last month that it was in talks to hand control to Riverstretch Trading & Investments (RTI), which had already taken on the private pension fund’s debt. ($1 = 69.5554 roubles) (Reporting by Anna Pruchnicka in Gdynia; Editing by Susan Fenton)

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