Media: Delo Group of Companies will buy a blocking stake in KSK from Cargill
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The Delo group of companies will buy a blocking (25% plus one share) stake in the KSK grain terminal in Novorossiysk from the American largest trader Cargill. He spoke about this on the sidelines of the Eastern Economic Forum (WEF) Chairman of the Board of Directors of the Group of Companies Sergey Shishkarev, transmits “Kommersant”.
According to Shishkarev, the parties agreed on all issues, and the documents were sent to the government commission on foreign investment. The application, he expects, will be reviewed within a month.
“The Case” in 2013 sold Cargill blocking package KSK. This terminal accounted for about 20% of the trader’s cargo turnover.
Large grain traders began to announce their departure from the Russian market in March of this year – then, in particular, the Canadian trader Viterra announced this. On March 29, it became known that in the new agricultural season (July 1, 2023 – June 30, 2024) the Russian division of Cargill will stop export of products from Russia. The company said at the time that it had launched a review of the grain export assets in its portfolio. It was emphasized that the changes will not affect “any other types of activities and assets of Cargill in Russia”; they are “not planned and not being considered.”
Cargill began operating in the Russian market in 1991. In addition to exporting grain, the Russian division also supplies food products to restaurant and retail chains, works with industrial consumers of energy, salt, starch products and steel products, etc.
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