Russia's Lenta says to float in London

MOSCOW, Feb 3 (Reuters) - Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG,, said on Monday it intends to float in London, tapping demand from investors for consumer-focused stocks buoyed by a rising middle class.

The move could produce a rare success story for a U.S. buyout firm in Russia, giving TPG the opportunity to partly exit an investment it made in 2009.

Lenta will be competing for investor attention with German retailer Metro AG (Xetra: 725750 - news) , which plans to sell up to a quarter of its Russian cash-and-carry unit in a London listing to raise funds to invest in the fast-growing business and pay down debt.