Former KGB-agent turned tycoon Alexander Lebedev has closed a deal to buy Britain's debt-saddled Independent and The Independent on Sunday for the token sum of one British pound, the newspaper's publisher said on Thursday.
In its statement, Independent News & Media Co. said that it was "pleased to announce the disposal of The Independent and The Independent on Sunday to Independent Print Limited ("IPL"), a company controlled by the family of Mr. Alexander Lebedev."
"The consideration payable by IPL is 1 British pound. As part of the transaction, INM will pay IPL 9.25 million British pounds [$13.6 million] over the next ten months for use within the titles, in exchange for IPL assuming all future trading liabilities and obligations," the statement said.
Lebedev already owns a majority stake in the London Evening Standard. His purchase of the Evening Standard has caused controversy in Britain over the Russian tycoon's background in the KGB.
Lebedev, along with former Soviet leader Mikhail Gorbachev, also co-owns the Russian opposition newspaper Novaya Gazeta.
LONDON, March 25 (RIA Novosti)
