Ukrainian-Swiss JV has acquired grain terminal in the port of Taman for $265 million

08:15 04.10.2012
Russia

Joint venture on a parity basis between Ukrainian Kernel Holding SA and Swiss trader Glencore International «daughter» - Renaisco BV – has purchased a grain terminal in the port of Taman from the «EFCO» group.

The deal amounted to $265 million. The terminal capacity is 3 million tons of grain per year.

EFCO was ready to sell the terminal for $200-300 million. Besides Glencore, other raw material traders were named as applicants for the asset: Luis Dreyfus, and group of companies «Delo», belonging to Sergei Shishkarev.

Glencore is the largest raw material trader in the world. Kernel is controlled by businessman Andrey Verevskiy.

English translation BSN
Adapted from PortNews

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