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. Last Updated: 07/27/2016

Mystery Investor Buys 7% of WBD

A major shareholder in Russia's biggest and best-known juice and yogurt maker, Wimm-Bill-Dann, sold his 6.95 percent stake in the company to a previously unheard-of investment company, WBD said Monday.

"Aleksandras Timokhins sold his shares to United Burlington Investment Ltd.," said WBD's press secretary, Kira Kiryukhina. "Mr. Timokhins was a big shareholder, but he did not have a seat on the board or influence in the company."

A United Burlington representative in Moscow could not be reached for comment, and analysts said they had never heard of the company before.

The block of shares was priced on March 4 in line with the closing price of $19.58, making the selling price around $60 million. Aton brokerage said the deal set the price benchmark for WBD: "That an insider would sell out of a high-growth company like WBD.suggests one of two things: Timokhins wanted to retire from business or he felt WBD shares are adequately valued at $19-$20."