Private Equity Russia

UFG Private Equity has announced that, together with Shari Redstone, it has acquired 75,1% of Russian theater chain operator Red Star Media from  Sumner Redstone’s National Amusements, Inc.

Specific terms of the transaction were not disclosed.

The senior Redstone has been shedding his farther flung interests and selling stock in its media holdings in order to service the sizable debt load of his media empire.

Shari Redstone, daughter of Sumner Redstone and President and owner of 20% of National Amusements and will become chairman of the new entity.

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