World meat industry news

In an interview with the Don24 news agency, the Minister of Agriculture of the Rostov Region, Konstantin Rachalovsky, said that by the end of 2019 all the assets of the bankrupt Eurodon holding would be transferred to the Rosselkhozbank (RSHB).

The head of the region said that three large investors are ready to tackle the restoration of turkey production at the sites of bankrupt enterprises previously owned by Vadim Vaneev. Most likely, we are talking about the holdings Cherkizovo, Damate and Resource.  

Last week potential bidders announced their readiness to acquire Eurodon assets at a discount exceeding 50% of the price at which the Russian state-owned development corporation VEB.RF is interested. This situation was discussed at yesterday's meeting of the parliamentary group of the State Duma of the Rostov region. Apparently, the issue of transferring claims with RSHB has already been resolved.

Now the total debt of the Eurodon group of companies is estimated at 30 billion rubles. The problems of the poultry enterprises of the Rostov region, affecting the state and results of this sector of the Russian agricultural sector, need to be addressed at the federal level, the minister said. The salvation of another enterprise declared bankrupt this summer - White Bird Rostov LLC - the local government intends to restore with the assistance of Trust Bank.