Bunge disposed of grain terminal in Russia

Bunge sold its asset in Russia, Rostov Grain Terminal. Russia's Sberbank financed the buy-out of 100% of the terminal's share capital.

Marat Shaydaev and Alexey Chemerichko, former top managers of Novorossiysk Grain Plant PJSC and United Grain Company (UGC) are the new owners of the terminal.

The amount of funding for asset buy-out is not disclosed.

Rostov Grain Terminal handles river-sea vessels. Its storage capacity is 42,000 t and a nominal transshipment capacity is about 1 mln t per year.

"Previously Rostov Grain Terminal was a captive terminal. Currently, we are planning to make the terminal accessible to all market players," commented Rostov Grain Terminal beneficiary Alexey Chemerichko.

Ruslan Salimov, head of the Rostov branch of Sberbank of Russia, said that despite some tension on the agricultural commodities market associated with wheat export duty, no drop in export volumes is forecast unless there is an unforeseen situation in grain production volume.

"We also see that about 40% of all Russian grain is already transshipped for export through terminals in the Azov-Don Basin. I have no doubt that our partners will manage to load the terminal's capacities," Ruslan Salimov added.

As a reminder, Bunge disposed of a refinery in the Netherlands, Bunge Loders Croklaan. The facility was to be sold for EUR 258 mln in cash.

In Ukraine, the company's subsidiary, Mykolaiv Oil Extraction Plant, reached a record processing volume for a single enterprise among all crushing plants in Ukraine in 2020.

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