The heavily-indebted majority owner of Russian grocery chain Seventh Continent has agreed to exchange 15% of the company for the restructuring of US$560m in debt, Russian media reports suggest.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


According to business daily Kommersant, Alexander Zanadvorov – who currently holds a 74.8% stake in the retailer – will surrender part of his stake to Seventh Continent’s creditors – Natixis, Alfa-Bank and Spinnaker Capital.


Natixis and Seventh Continent declined to comment on the reports, while Alfa-Bank and Spinnaker Capital were unavailable for comment at time of press.


The value of the loan plus interest will be converted into eight-year bonds with a total value of $630m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.