29 Jun 2023 10:34

Alfa Bank acquires 19% of largest agribusiness group in Bashkortostan

MOSCOW. June 29 (Interfax) - Alfa Bank, one of Russia's largest lenders has acquired a 19% stake in Tavros Management Company LLC, a division of the eponymous vertically integrated agribusiness group, data from the Unified State Register of Legal Entities showed.

"We confirm the fact of the deal to buy 19.01% of shares in Tavros MC LLC. The deal is not related to lending and is of an autonomous nature, meeting the interests of both parties," the bank's press service told Interfax.

Tavros MC closed 2022 with assets of 45 billion rubles. The company posted a net loss of 163 million rubles on revenue of 332 million rubles for the year.

The company's website said that Tavros Group, which includes crop and livestock farming operations and processing facilities, is on the Agriculture Ministry's list of systemic Russian companies and is the largest agribusiness group in Bashkortostan.