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Mint Capital on Thursday announced that it had acquired a 70 percent stake in Tinkoff restaurants, becoming the full owner of the venture

The Moscow Times
25th September 2009
A statement issued by Mint Capital did not disclose the value of the deal. In 2008, Tinkoff owner Oleg Tinkov sold a 25 percent share of the company to the Scandinavian investment company for $10 million and estimated the value of his chain at $25 million in 2007. In comments posted Thursday on his LiveJournal blog, the businessman conceded that now might not have been the best time to sell the chain. “The price is low and the chances of the business generating net profits are high,” he said.Tinkov, who started the company in 2001 along with a beer brand that he sold to Sun InBev in 2005, also expressed relief at getting out of the restaurant business. “I’m tired of this business,” Tinkov said. “The restaurants were a supplement to my beer factory … its marketing platform. ”Mint Capital has numerous plans concerning the expansion of Tinkoff restaurants, the firm’s managing partner, Gleb Davidyuk, told The Moscow Times. “We will raise the efficiency of our business and develop franchising projects,” he said. “We intend to open sports bars in the cities where we operate, as we feel this segment is not filled yet.”
 
 
   
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