Kazakhstan subsidiary of Fonte Capital purchases 18% stake in Samolet from heirs of Kenin

MOSCOW. Aug 10 (Interfax) - The Horizon fund, which represents the interests of the heirs of Samolet Group co-founder Mikhail Kenin, has sold a 17.58% stake in the company.

Samolet said that the stake had been purchased by Private Investment Company Fonte Inceptia Alpha Fund OEIC Limited, registered at the Astana International Financial Center and managed by Fonte Capital Ltd.

"The acquisition of the stake in PJSC Samolet Group, one of Russia's largest real estate developers, will allow the fund to broaden its exposure to the real estate sector. We are sure that Fonte Capital's expertise and experience in equity management and the group's strategic goals will form the basis for mutually beneficial cooperation," Fonte Capital CEO Erzhan Musin is quoted in the statement as saying of the deal.

Samolet Group is Russia's leading property developer in terms of the volume of current construction projects. Pavel Golubkov remains its second biggest shareholder. The company's shares are traded on the Moscow Exchange.