Etalon Group PLC said its unit Etalon Group Co. AO agreed to buy the remaining 49% stake it does not already own in Moscow-focused residential real estate developer Leader-Invest JSC for 14.6 billion Russian rubles.
Sistema PJSFC, a publicly traded diversified holding company, is selling the stake in a deal slated to close in August.
The deal will be financed with a long-term credit line, and Russian development and construction company Etalon Group will consolidate full ownership of Leader-Invest following the acquisition.
As of Aug. 9, US$1 was equivalent to 65.45 Russian rubles.
