Alexander Zanadvorov, the owner of Russian retailer Seventh Continent, is reportedly considering selling the grocery chain in order to meet debt obligations.

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According to reports in Russia, Zanadvorov secured a US$560m loan from Deutsche Bank, secured against 74.81% of shares in the retailer.


With Deutsche Bank having issued a margin call, meaning that securities have decreased in value past a certain point, Zanadvorov will now be forced to either deposit more money in the account or to sell off some assets.


According to Russian daily Kommersant, Zanadvorov is considering the possibility of selling the supermarket group in order to repay the loan.

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