Russia's Magnit to buy back around 21.5% of shares from Western investors

July 26 (Reuters) - Russian retailer Magnit on Wednesday said it would buy back approximately 21.5% of its shares, finalising the results of a tender offer that could enable some Western investors to sell off blocked Russia holdings, albeit at a discount.

Magnit's wholly-owned subsidiary Magnit Alyans will purchase 21,905,943.8 shares, representing approximately 21.5% of all issued and outstanding shares, Magnit said.

"The final number of shares purchased in the tender offer will be announced upon completion of settlement procedures," Magnit said in a statement. (Reporting by Alexander Marrow; editing by Jason Neely)