Rusagro took over the debt of Solnechnye Produkty
11 December 2018
Rusagro, one of the largest Russian agroholdings operating 675,000 hectares, acquired 80% of the debt of an oil producer Solnechnye Produkty , an agricultural subsidiary of Bouquet Group. The value of the transaction amounted to RUB 34.7 billion ($ 520 million). The purchased debt is collateralized by the company’s major assets.
The acquisition of Solnechnye Produkty’s assets will reportedly allow Rusagro to strengthen its position on the Russia’s market for fats and oils. In particular, Rusagro plans to increase its market shares in production of sunflower oil, mayonnaise and margarine.