The American agro-industrial and food giant Bunge has announced that it has completely left the Russian market.
Bloomberg writes about this, citing a statement from the company.
It is noted that the largest processor of oilseeds sold the plant in Voronezh and the rights to brands of vegetable oils, including Oleina and Ideal.
The plant was built in 2005 and produced up to 540 thousand tons of raw materials. Its cost is estimated at 130 million dollars, but the company did not name the real amount of the purchase and sale transaction.
“Through the sale, Bunge (“B”) joined the global grain trading giants known as “ABCD” that left the Russian market – Archer Daniels Midland, Cargill and Dreyfus.
Two months ago, Bunge hinted at a sale through a restructuring of the Russian business. The business is being sold to Karen Vanetsyan, the controlling shareholder of Russia’s Exoil Group.