“Lenta” reported the closing of the deal to purchase online retailer “Utkonos”. The purchase price at the time of closing amounted to 20 billion rubles, the company said in a statement.

“Lenta” is going to combine “Lenta Online” and “Utkonos” into a single business with two brands, each of which will develop its own segment. As a result of the deal, Lenta bought 100% of Novy Impulse-50 LLC, which operates the Utkonos business, from billionaire Alexei Mordashov’s Severgroup.

The deal will be financed through an additional issue of Lenta shares. They will be placed by closed subscription in favor of Severgroup. The purchase will allow Lenta to increase its share in the online segment to 11% and gain an advantage in competing in the above-average and premium price categories.