Bulgari to build hotel in Russia with Magnit minority shareholder | reuters.com

Italian jeweler Bulgari has teamed up with Russian real estate investor Alexei Bogachev to build its first hotel in the country, it said on Wednesday, a day after opening its second Russian store. Bogachev, who also invests in agriculture and owns around 4 percent of shares in Russia's top retailer Magnit (MGNT.MM), said he would invest around $200 million in the Moscow hotel which will be operated by Marriott International Inc. (MAR.O).