Trust Bank to sell Belaya Ptica
27 July 2020
Trust Bank, Russia’s fund of non-core and troubled assets of weak banks, plans to sell the production capacities of a bankrupt agroholding Belaya Ptica, which used to control 5% of Russian poultry market. In particular, the assets for sale include the poultry farms of Belaya Ptica Rostov and Belaya Ptica Belgorod with annual production capacity of 60,000 tonnes and 110,000 tonnes of broiler meat, respectively, both declared bankrupt and gone under control of Trust Bank in 2018. Currently, the production sites of Belaya Ptica Belgorod are leased by another Russian agroholding Cherkizovo, while Belaya Ptica Rostov is temporarily out of operation. The estimated worth of both assets is $126 million.