Russia's largest bank, state-run Sberbank, and the owner of a mid-sized lender have bought Inteco, the real estate firm of the wife of Yury Luzhkov, the former Moscow mayor whom President Dmitry Medvedev fired last fall over a lack of trust, Sberbank said on Tuesday.
Sberbank Investitsii, Sberbank's subsidiary, bought five percent of Yelena Baturina's company, while Mikhail Shishkhanov, the owner of Binbank, bought 95 percent for an undisclosed amount, Sberbank said in a statement.
It also said that Inteco was valued at $1.2 billion.
Baturina became the country's richest woman with a $2.9-billion fortune earned in the city's construction business during 18 years of her husband's mayorship.
