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Rusagro

Rusagro is one of Russia's largest agricultural companies,[1] and a major producer of pork, fats and sugar. It was established in 1995 as a sugar producer.[2] Maxim Basov is the company's Chief Executive Officer.[3]

History

In 2001, Rusagro bought Rosprod, a rival sugar trading firm.[4] By 2005 the company co-owned nine sugar beet farms in Belgorod Oblast.[5]

The company originally planned an IPO for 2010, which was delayed due to the volatility of the Russian market.[6] The company was listed on the London Stock Exchange in April 2011. Prior to the IPO, 95% of Rosagro was controlled by company founder Vadim Moshkovich and his family.[7]

The company has grown significantly after 2014, benefiting from the weaker ruble,[8] as well as bans on pork imports from the European Union.[9] In 2016 the company filed a bankruptcy claim against Razgulay.[10] Since 2016 the company exports corn to the Asia-Pacific region through its subsidiary in the Russian Far East.[11] In 2017 it announced plans to expand meat production to northeastern China,[12] and to invest $1 billion in dairy production.[13] In September 2021, CEO Maxim Basov announced that SPO and call for money is beyond Rusagro scope.[14] Meanwhile, in the same month, Maxim Basov increased his stake from 7,5 to 7,73% during “Rusagro” SPO, buying 250000 GDR for 3,47 million dollars. Maksim Vorobyov, businessman and brother of governor of Moscow Oblast Andrey Vorobyov, in his turn, has bought 10,14% of shares of Rusagro, becoming the second largest shareholder after Vadim Moshkovich (51,7%)[15]

External links

References

  1. Alexander Korablinov. Rusagro to export pork to Vietnam in 2017 Russia Beyond The Headlines, 29 August 2016, retrieved 17 August 2017^
  2. 5 Russian Food Producers Winning From Economic Crisis and Import Ban retrieved 17 August 2017^
  3. Russia's Rusagro may drop greenhouse project if subsidies cut Reuters, 2016, retrieved 17 August 2017^
  4. Sugar Giant Buys Up Rival Trading Firm The Moscow Times, retrieved 17 August 2017^
  5. Grigoriĭ Viktorovich Ioffe, Tatʹi͡ana Grigorʹevna Nefedova, Ilya Zaslavsky. The End of Peasantry?: The Disintegration of Rural Russia University of Pittsburgh Pre, 19 October 2006^
  6. Oleg Nikishenkov. Flotations tank as fear returns Russia Beyond The Headlines, 1 June 2010, retrieved 17 August 2017^
  7. Russian sugar, pork producer Rusagro prices London IPO Telegraph.co.uk, retrieved 17 August 2017^
  8. Russia's Rusagro toasts crisis as weak rouble boosts growth Reuters, 2015, retrieved 17 August 2017^
  9. Russia's Rusagro group sales soar on EU pork import ban Reuters, 2014, retrieved 17 August 2017^
  10. Russia's Rusagro files for bankruptcy of Razgulay Reuters, 2016, retrieved 17 August 2017^
  11. Marina Karpova. Rusagro exports Primorye corn to Japan Russia Beyond The Headlines, 22 January 2016, retrieved 17 August 2017^
  12. RusAgro pushes into China by building pig farms GlobalMeatNews.com^
  13. Rusagro could become Russia's largest dairy producer with $1bn investment bne IntelliNews, retrieved 17 August 2017^
  14. Русагро не планирует новое публичное размещение акций РИА Новости, 2021-09-02^
  15. Максим Воробьёв стал владельцем более 10% Русагро Коммерсантъ, 2021-09-30^