Russia. COFCO to redeem stake at KSK terminal in Novorossiysk
By the end of the year, the stevedoring group “DeloPorts” plans to close the sale of a stake at KSK grain terminal in Novorossiysk to Chinese COFCO. KSK is the third largest grain terminal in the Black Sea region of Russia. In 2013, Cargill joined this project purchasing 25% plus one share stake from DeloPorts. And COFCO’s share is expected to be 25% minus two shares, to leave the controlling stake of more than 50% to DeloPorts, reports UkrAgroConsult.
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