Alfa Capital Holdings, part of Mikhail Fridman's Alfa-Group, has acquired a 10.7 percent stake in Russian property developer Open Investments , a statement issued by the real estate group said.
Open Investments said on Friday the stake was acquired by NKB Investments, which is an affiliate of Moscow's Uralsib bank, documents seen by Reuters indicated.
According to Reuters data, a 10.7 percent stake is worth $29 million.
Alfa Bank confirmed it had purchased the stake but declined further comment.
Open Investments, controlled by Russian business and political figure Mikhail Prokhorov, is a commercial real estate developer in the Moscow region.
