FAS allowed the structure of the "South of Russia" to buy the Komsomolets breeding plant

AK&M 29 May 2023 14:37

The Federal Antimonopoly Service granted the request of Finance South of Russia LLC to give preliminary consent to the acquisition of 100% of the shares of Komsomolets Breeding Plant JSC. This is stated in the message of the service.

According to the interlocutor of the Kommersant newspaper, despite the consent of the FAS, there is no agreement on closing the transaction between the parties yet.

Kommersant notes that the growth of trade between Russia and China encourages agricultural holdings to consider opportunities for development in the Far East. Speaking about this transaction, the newspaper noted that it may be difficult to integrate a remote business into the group, and the prospects for the development of agricultural exports to China remain questionable.

The main activity of LLC Finance South of Russia (Rostov-on-Don) is investments in authorized capital, venture investment, including through investment companies.

Yug Rusi is one of the main producers and exporters of vegetable oils in Russia. It unites nine creameries, the largest of which is located in Rostov-on-Don.

The main activity of JSC "Komsomolets Breeding Plant" (Zabaikalsky Krai, Komsomolskoye) is the cultivation of cereals (except rice), leguminous crops and oilseeds.