Shares in Russian skincare company OAO Concern Kalina (KLNA.RS) shot up 40% in Moscow Friday, following reports that Anglo-Dutch consumer goods giant Unilever PLC (UL, ULVR.LN) is close to buying it.

At 0654 GMT, Kalina shares were up 40% at RUB3,077 a share.

The Wall Street Journal reported late Thursday that Unilever is nearing a deal to buy Kalina for about $850 million, citing people familiar with the matter. The companies plan to announce the deal as early as Friday, the people said.

Kalina declined to comment.

-By Nadia Popova, Dow Jones Newswires; +7 495 232-9198; nadia.popova@dowjones.com

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