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(From M&A Navigator)
MANAVIGATOR-March 29, 2011-VTB Capital, TPG Capital challenge Meyer for full control at Lenta (C)2011 M2 COMMUNICATIONS http://www.m2.com
Russian fund VTB Capital and US private equity firm TPG Capital, owning 30.8% in Russian hypermarket chain Lenta, have proposed rival shareholder August Meyer, holding 40.6% in the retailer, to compete in a public auction for full control of the company and end their management dispute, Kommersant wrote today. VTB Capital and TPG Capital vetoed Meyer's proposal to name Sergei Yushchenko to replace Jan Dunning as CEO at Lenta last spring, and after Dunning left at the end of October, the retailer's …