VTB Bought a Share of Ukrainian Agricultural Holding in a Grain Terminal in Taman
The bank acquired 50% in the Cypriot Taman Grain Terminal Holdings Ltd, which owns the terminal, said the VTB press service, noting that the other 50% remained with the international trader Glencore. Kernel and the Russian office of Glencore declined to comment. One of the partners of the Ukrainian agricultural holding is also aware of the sale of Kernel's stake in the Russian terminal.
The terminal complex in Taman, located near the main agricultural regions in the south of Russia, has access to the largest grain sales markets - to Africa, the Middle East and Southeast Asia. The terminal can transship 4 million tons of grain per year, recalls Andrei Sizov, director of the Sovecon consulting company.
In the current agricultural year, which ends June 30, 2020, 2.1 million tons of grain have already passed through the terminal in Taman, Sizov points out.