Kopeika seeks funds to pay off debt

Russian retailer Kopeika is looking for funds to pay off its approximately RUB10 billion (USD333 million) debt. The retailer is considering an IPO to be placed at Moscow or London Stock Exchange by 2011. It anticipates to source about USD300-500 million. The retailer was reported in 2009 to be negotiating a possible M&A with X5 Retail Group, Magnit or Wal-Mart, but no deal closed.