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VTB provides financing to Lenta

25 June 2015

VTB provides financing to Lenta .

VTB has issued Lenta a seven-year RUB 37.3 billion loan to finance the retail chain’s current operations and development, and to refinance an earlier loan from VTB Capital.

First Deputy President and Chairman of the VTB Bank Management Board Yury Solovyev said: "Lenta is one of the most successful and fastest growing retail chains in Russia. We are confident that working together will prove beneficial to both sides and facilitate the further consolidation of our respective market positions."

Lenta is one of Russia’s largest retailers and the second biggest hypermarket by revenue in 2014. Established in St Petersburg in 1993, Lenta runs 115 hypermarkets in 62 cities and 26 supermarkets in Moscow totalling about 746,728 sq m of retail space. The average size of a Lenta hypermarket is about 6,300 sq m. It also operates five hypermarket distribution centres.

Lenta is developing several types of low-price hypermarkets that differ from others in terms of marketing and pricing and the range of locally manufactured products. As of December 31, 2014, Lenta had about 35,100 employees.


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