{"id":20551,"date":"2023-06-09T13:52:11","date_gmt":"2023-06-09T17:52:11","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/exclusive-vtb-to-sell-one-of-russias-biggest-grain-traders-demetra-holding-ceo-kostin-says\/"},"modified":"2023-06-09T13:52:12","modified_gmt":"2023-06-09T17:52:12","slug":"exclusive-vtb-to-sell-one-of-russias-biggest-grain-traders-demetra-holding-ceo-kostin-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20551","title":{"rendered":"Exclusive-VTB to sell one of Russia’s biggest grain traders, Demetra-Holding, CEO Kostin says"},"content":{"rendered":"
\n

MOSCOW (Reuters) – VTB, Russia’s second largest bank, will sell its stake in one of Russia’s biggest grain traders, Demetra-Holding, and is in negotiations with both Russian and foreign buyers, CEO Andrei Kostin told Reuters in an interview.<\/p>\n

Demetra has a network of grain elevators, major deep sea grain terminals and its own logistics. It owns a non controlling stake in major grain trader United Grain Company (OZK). <\/p>\n

VTB has a 45% stake in the holding.<\/p>\n

“We’re coming out of there. It’s decided,” Kostin told Reuters. “We have been out of control for a long time, and we will leave completely.”<\/p>\n

He said the asset would be sold this year.<\/p>\n

When asked if buyers had been found, he said: “Yes, and even, maybe, there will be not only Russian ones, we’ll see.”<\/p>\n

He declined to say who the buyers were but clarified that they would be from “friendly” countries – a word Russia uses to describe countries which have not imposed sanctions on Russia.<\/p>\n

When asked if billionaire Vadim Moshkovich was a bidder, Kostin said: “No.”<\/p>\n

Asked if it could be the Chinese, Kostin said: “Why China? We have lots of friends, more than 100 countries did not support the anti-Russian sanctions, so we will choose one of them.”<\/p>\n

Kostin said VTB saw few prospects for itself in the grain business, adding that a sanctioned bank in the shareholding hindered the holding. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MOSCOW (Reuters) – VTB, Russia’s second largest bank, will sell its stake in one of Russia’s biggest grain traders, Demetra-Holding, and is in negotiations with both Russian and foreign buyers, CEO Andrei Kostin told Reuters in an interview. Demetra has a network of grain elevators, major deep sea grain terminals and its own logistics. It […]<\/p>\n","protected":false},"author":1,"featured_media":20552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-20551","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nExclusive-VTB to sell one of Russia's biggest grain traders, Demetra-Holding, CEO Kostin says | iFintechWorld<\/title>\n<meta name=\"description\" content=\"MOSCOW (Reuters) - VTB, Russia's second largest bank, will sell its stake in one of Russia's biggest grain traders, Demetra-Holding, and is in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=20551\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exclusive-VTB to sell one of Russia's biggest grain traders, Demetra-Holding, CEO Kostin says | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"MOSCOW (Reuters) - 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