Alfa-Bank withdrew from shareholding at Ekosem-Agrar
26 May 2020
Ekosem-Agrar AG, a German group of companies operating the Russia-based largest raw milk producer EkoNiva, has completed refinancing its debt to ABH Financial, the managing company of Russian Alfa-Bank. In eary 2020, Ekosem-Agrar transferred € 43 million to its shareholder Torentina Ltd owned by ABH Financial. In response, Alfa-Bank refinanced Ekosem-Agrar’s loan, and Torentina Ltd received a 16%-stake in Ekosem-Agrar.
Later on, in March 2020, the claim rights over the remaining loan of Ekosem-Agrar to Alfa-Bank were transferred to Rosselkhozbank, including the liabilities against Alfa-Bank of another Ekosem Agrar’s shareholder Ternata Holding owned by Stefan Dürr. Ternata’s debt to Rosselkhozbank was acquired by EkoNiva’s managing company EkoNiva-APK Holding, while Ternata Holding acquired Torentina and, accordingly, became the owner of a 16%-stake in Ekosem-Agrar AG.
This way, Alfa-Bank resigned from being a shareholder at Ekosem-Agrar. The total financial liabilities of Ternata and Torentina against Ekosem Agrar comprise € 85 million. By results of these developments, Ekosem-Agrar’s founder and CEO Stefan Dürr raised his share in the company up to 58.84%.