Acquisition of Alev by Rusagro canceled
30 September 2019
The arbitration court of Moscow canceled the acquisition of shares of dairy producer Alev by Russia-based agroholding Rusagro. The transaction worth $ 1.1 million was found invalid due to the fact that the market price of acquired shares exceeds $ 3.4 million.
In 2018, Rusagro took over the debt of Alev Group of Companies, and leased its capacities for cheese and butter production. Such court decision might affect existing lease arrangements between Rusagro and Alev.
Alev operates two milk processing plants with a production capacity of 9,000 tonnes of cheese and cheese products per year.