The Moscow Arbitration Court invalidated the results of the auction for the sale of the largest agricultural holding in Bashkiria

The Moscow Arbitration Court upheld the claim of the Moscow Network Company (MSC) against Trust Bank to invalidate the results of the auction for the sale of the Russian Grain Ufa group of companies (GC) to the Mikhailovsky agro-industrial complex (part of the Cherkizovo group). As follows from the information published on the court’s website, it made the corresponding decision on November 1, but there is no reasoning part yet.

The auction for the sale of the Russian Grain Ufa Group of Companies took place in December 2022. The Cherkizovo structure was the only participant in the auction, so the lot should have gone to it at the starting price, which was 6.37 billion rubles. But in July of this year, MSC demanded that the court declare the auction results invalid. This company wanted to become the second participant in the auction, but in the end it was not allowed to participate in it, since it did not provide the necessary documentation for this, explained a representative of Trust. He added that “the court’s decision will be appealed in any case” to the appellate court. The representative of Cherkizovo also speaks about this. A request to the Baltinvest company, which, according to SPARK-Interfax, manages the fund that owns half of MSC, remained unanswered. It was not possible to contact businessman Vladimir Golubev (he owns the other half of the plaintiff).