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

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

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.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now