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Luzhkov Wife Gets $557 Million for Cement Plant, Vedomosti Says

Yelena Baturina, Russia’s richest woman and the wife of ousted Moscow Mayor Yury Luzhkov, sold a cement plants in southern Russia for about $557 million, Vedomosti reported, citing unidentified people close to deal.

The buyer, billionaire Lev Kvetnoy, owner of producer OAO Novoroscement, strengthens his position as the country’s second- largest cement producer, the newspaper said.

Kvetnoy paid about $300 million and cash and assumed $260 million of debt to OAO Sberbank, the newspaper said.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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