Kernel considers the sale of assets in Russia — Verevskiy
The Kernel company considers the stock sale of the deep-water grain export terminal in Taman (Russia), the WSE reports.
“There are several potential buyers interested in the asset. If we get a satisfactory price, we will seriously consider leaving the Russian market,” says Andrei Verevskiy, Chairman of the Board of Directors of Kernel.
The exchange's report states that in 2012 Kernel and Glencore acquired 100 per cent of the shares in the deep-water grain terminal in Taman port from the EFKO Group (mayonnaise and Sloboda sunflower oil producer). At the time of the transaction, the terminal value was estimated at USD 265 million, the Kernel report said. The company owns a 50 per cent stake in Taman Grain Terminal Holdings Limited. In 2018, Kernel assigned its transshipment quota in the Taman facility to the 3rd party.
Previously it was reported that VTB Group was negotiating a purchase of Kernel's 50 per cent share in Taman.
Read also
Growing demand for corn in Vietnam points to increased imports
BLACK SEA GRAIN. KYIV conference brought together grain market participants and ex...
Argentina bug invasion knocks $1.3 billion off corn crop
Growth of corn prices in Ukraine limits the fall in world prices
Argentine farmers call for ‘urgent’ end to wheat export taxes
Write to us
Our manager will contact you soon