Russia. VTB sold off almost half its grain business
VTB Group has attracted strategic partners to grain business. In April 2020, the new shareholders – JSC Agronova and Marathon Group – acquired shares in the capital of Demeter Holding, which comprises VTB’s grain assets. Under the deal, Agronova obtained 25% of the grain company, while Marathon Group got 24.99%. VTB will retain control over Demeter Holding and exercise operational management thereof.
As a reminder, Demeter Holding’ assets include Russia’s largest grain terminals: the holding owns 100% in the Novorossiysk Grain Terminal, 35.5% in the Novorossiysk Grain Product Plant and is a co-owner of a terminal in Taman, UkrAgroConsult reports.
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