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Finance Notes: Alisher Usmanov Relinquishes Control Of Mail.ru

Russian billionaire Alisher Usmanov transferred control of search and social media company Mail.ru to management, the company said Monday. Usmanov said that his USM Holdings relinquished control over London-listed Mail.ru, which "will now have no single controlling shareholder." CEO Boris Dobrodeev and his deputy will take up USM's two seats on Mail.ru's board (FINANCIAL TIMES, 10/22).

Rallye, the parent company of French retailer Casino, said on Monday that one of its subsidiaries received a binding offer for its Courir sports brand, the "latest move by the group to raise cash and cut debt." Groupe Go Sport, which is a wholly-owned subsidiary of Rallye, received an offer for its sneaker business Courir from mid-market private equity firm Equistone Partners Europe, for an equity value of €283M ($324.5M) (FT, 10/22).

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