A company owned by Russian billionaire Vladimir Lisin is set to acquire Progress, one of the country’s largest baby food producers, for about 70 billion roubles ($745 million), the RBC daily reported, citing unnamed sources.
Lisin, who controls steelmaker NLMK and is one of the few Russian billionaires not to be targeted with European Union or U.S. sanctions, is ranked by Forbes as Russia’s richest person, with a fortune of $26.1 billion.
Business newspaper Kommersant also reported the deal, citing two unnamed sources, putting the price at around 85 billion roubles.
Reuters could not independently verify the proposed deal. NLMK and Russia’s Federal Antimonopoly Service (FAS) declined to comment. Progress and a representative for Lisin did not immediately reply to requests for comment.
Last year, Lisin sold Freight One, one of Russia’s largest freight rail operators, to the owners of SG-Trans, Russia’s biggest transporter of liquefied petroleum gas (LPG) for around 200 billion roubles, sources told Reuters.
Lisin also owns agricultural holding Rumelko, which specialises in dairy cattle breeding and crop production.
Source: Reuters.com