Tuesday, 27 August 2019
The Ministry of agriculture rejected the idea Kostina on creation of a grain giant
Earlier, the Chairman of VTB Andrey Kostin has addressed to the President of Russia Vladimir Putin with a request to help create new domestic grain leader. In his opinion, this will reduce the role of foreign traders and will give the state more control over the export. According to the source RBC, the head of the Bank asked the President to consider the possibility of privatization of 25% of the United grain company (UGC).
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"In this case we are talking about commercial activities of VTB group. For its part, the Ministry of agriculture cooperates with all participants of the grain market",— said the press service of the Ministry of agriculture.
In August 2018 VTB bought 22,25% Novorossiysk Kombinat KHLEBOPRODUKTOV, then increasing its share to 33.18%. In February 2019 VTB acquired a 50% minus one share in UGC, which, in turn, controls 51% of the NGP. Thus, VTB has close to the full consolidation of the plant.
Previously, "Kommersant" wrote that since the beginning of the season-controlled VTB the company "Myrogroup resources" sold large quantities of wheat for export and to carry out the contracts, has been actively buying grain on the domestic market at prices above the market at $2-10 per ton.
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Translated by service "Yandex.Translation"
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