Maxim Vorobyov reduces stake in Inarctica, exits Rusagro

MOSCOW. Dec 19 (Interfax) - PJSC Inarctica principal shareholder Maxim Vorobyov has sold a 23% of his shares in the leading Russian fish producer to management, reducing his stake to less than 24%, the company said in a press release.

The terms of the deal were not disclosed.

Vorobyov has also sold his 9.86% stake (13,469,027 GDRs) in Rusagro to a group of businessmen, the Russian agribusiness group reported. "As a result of the deal, he ceases to be a shareholder of the company," Rusagro said.

Vorobyov became a shareholder of Rusagro in September 2021, when he bought shares in a secondary public offering.

United States imposed sanctions against Vorobyov and his Amereus Group last week. His brother, Moscow Region Governor Andrei Vorobyov was put on the Specially Designated Nationals List (SDN List).

PJSC Inarctica is the management company of a group that leads in production of farmed Atlantic salmon and trout in Russia. The group farms salmon and sea trout in the Barents Sea of the coast of Murmansk Region and lake trout in Karelia, in northwestern Russia. The group holds the rights to 35 allotments for farming salmon and trout with capacity to potentially produce about 50,000 tonnes of fish.

The company's other shareholders are Svinin & Partners Management Company LLC with 24.99%, CFC Direct Investments with 8.4% and subsidiaries with 1.9%. The company's float was 14% the end of 2021, the Moscow Exchange estimated.

Inarctica's charter capital of 8.788 billion rubles is split into shares with par value of 100 rubles each.

Rusagro Group is a major producer of sugar, pork, sunflower oil, mayonnaise and margarine that increased revenue by 14% to 188.96 billion rubles in the first nine months of 2022. The company's charter capital consists of about 27.333 common shares.