February 14, 2019 / 7:55 PM / 6 months ago

Russia's VTB buys 80 pct of Magnit's pension fund

MOSCOW, Feb 14 (Reuters) - Russia’s second-largest lender VTB Bank said on Thursday it had purchased an 80.01 percent stake in the pension fund of Russian food retailer Magnit.

Last year VTB sold an 11.82 percent stake in Magnit worth 62.5 billion roubles ($1 billion) to the Marathon Group, reducing VTB’s holding to 17.3 percent at the time. (Reporting by Gabrielle Tétrault-Farber Editing by Alexandra Hudson)

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