Cleary Gottlieb represented Lenta LLC in its acquisition of the Russian food retail business of Kesko Oyj, worth approximately $170 million.
As a result of the transaction, Lenta acquired 10 hypermarkets and one supermarket in Saint Petersburg and the neighboring Leningradsky region and has now become the largest hypermarket operator in Saint Petersburg, Russia. The transaction closed on November 30, 2016.
Lenta is Russia’s second-largest hypermarket chain; Kesko Oyj is a Finnish retailer of food, home and specialty goods, machinery, and car products.