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The mansion was acquired from drinks maker Campari, documents say.
A billionaire from Ukraine, Rinat Akhmetov, has purchased a luxurious villa on the French Riviera from the Campari group for EUR 200 million.
His property portfolio also holds an apartment in London's One Hyde Park worth GBP 137 million, The Financial Times reports.
Akhmetov is Ukraine's wealthiest oligarch. Through System Capital Management, he owns assets Forbes estimated at $6.7billion in energy, metallurgy and telecoms. The portfolio also includes Shakhtar Donetsk FC.
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Papers seen by the FT say Akhmetov's company had acquired the Villa Les Cedres mansion in Saint-Jean-Cap-Ferrat from an Italian drinks maker Campari, while the Ukrainian businessman's company declined to comment on whether the property would be used as a private residence.
The company sees the 18,000-square-foot villa, dating from 1870, which was once home to Leopold II of Belgium, as a long-term investment.