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EBRD reduces stake in Russia's Lenta to 11.5 pct

Reuters - UK Focus

MOSCOW, June 24 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it had reduced its stake in Russian retailer Lenta to 11.5 percent from 15.3 percent via a private placement.

The bank sold 17,833,000 global depositary receipts, representing 25 percent of its holding, through an accelerated private placement on the London Stock Exchange (Other OTC: LDNXF - news) , it said in a statement. (Reporting by Maria Kiselyova, editing by Elizabeth Piper)