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The American agricultural trader Bunge, which produces Oleina oil, has closed a deal to sell the Russian business for the production of vegetable oils. It is reported by RBC.
Since February 3, when the deal was officially closed, Bunge CIS LLC continued the production and sale of vegetable oils at a plant in the Voronezh region under the control of the new owner. All details of the organization remained unchanged. The name of the company will be changed soon.
The company announced its plans to sell its business in Russia on September 19 last year. The controlling shareholder of the Exoil Group holding Karen Kanetsyan was named as the buyer. Exoil Group is engaged in the purchase of sunflower, processing, trading of oilseeds and grains, port transshipment and logistics.
Bunge is one of the quartet of the world’s largest agricultural traders ABCD (along with Archer Daniels Midland, Cargill and Louis Dreyfus). The company’s portfolio includes the brands Olena, Ideal, Skazka and Maslenitsa. The oil extraction plant in the rural settlement of Kolodezyanskoye, Voronezh Region, was opened in 2008, the company invested $130 million in production. The enterprise annually processes 540 thousand tons of raw materials and produces more than 200 million bottles of the product.
Source: Rosbalt
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