VTB Infrastructure Investments completed acquisition of a 29.1% stake in Magnet for $2.5bn.

VTB Bank-backed VTB Infrastructure Investments, an investment company, completed the acquisition of a 29.1% stake in Magnit, a supermarket chain, for $2.5bn. “I founded this company, but time passes and nothing is forever. The final push came from the fact that the company’s investors stopped seeing eye to eye with its shareholders over what the situation looks like going forward,” Sergey Galitskiy, Magnit, CEO and Founder.