Russian farming conglomerate Rusagro said on Wednesday it has bought a 22.5% stake in local competitor Agro-Belogorie, raising speculation this is a first step to taking a controlling stake to become the country’s largest pork producer. Rusagro and Agro-Belogorie are among the five largest pork producers with similar production capacity in Russia, which has seen consolidation in the meat industry in recent years. “This deal is definitely a way to gaining control, otherwise Rusagro would not have done it,” a banking source told Reuters. Rusagro did not disclose the terms of the deal and a spokeswoman declined to comment. Privately owned. Read more...
© Inline LLC 2015-2024. Privacy Policy | Terms of Service