Tatspirtprom, Rosspirtprom reportedly agree to merge

KAZAN. Dec 3 (Interfax) - Russia's leading vodka producer, Tatspirtprom and the country's largest producer of pure alcohol, Rosspirtprom have agreed to merge into a holding company that will be headquartered in Kazan.

The decision on the merger has already been made by the companies' shareholders and their integrated teams will start working soon, Vechernyaya Kazan reported on Tuesday, citing an informed source.

The Tatar company's team will manage the group's strategic development, development of liquor production, marketing and sales, the publication said. The group is expected to have its legal registration and headquarters in Kazan.

The press services of Tatspirtprom, the Industry and Trade Ministry and the Land and Property Relations Ministry of Tatarstan have not yet responded to questions from Interfax.

Tatspirtprom, which is owned by Tatarstan through JSC Svyazinvestneftekhim, has two ethanol plants and two distilleries, as well as the Vigrosso winery in Kazan.

Rosspirtprom, which was established on January 16, 2009, is fully integrated, with eight ethanol plants that can produce up to 225 million liters of alcohol per year and two service companies.

The Russian government issued an order on May 18, 2023 to include Rosspirtprom in forecast plan for privatization of federal assets for 2023-2024, and in 2024 the company was sold at auction to Business Alliance LLC.