March 26, 2020 / 5:01 PM / in 2 days

Russia's Sistema raises direct stake in Ozon to 31.3%

MOSCOW, March 26 (Reuters) - Russian business conglomerate Sistema said on Thursday it had increased its direct stake in online sales platform Ozon to 31.3% from 21.9% as the result of converting loans it provided in 2019.

Sistema together with Baring Vostok fund provided Ozon with financing in the form of convertible loans worth 6 billion roubles ($77.48 million) in the first quarter of 2020, the conglomerate said. ($1 = 77.4426 roubles) (Reporting by Nadezhda Tsydenova; Writing by Andrey Ostroukh. Editing by Jane Merriman)

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