AFK Sistema taps specialized investor for development of fishery business in Kamchatka

MOSCOW. July 24 (Interfax) - Sistema has sold 22.5% of Voskhod Fishery Holding LLC to Olga Zachinyaeva's Crowninvest, according to information from the SPARK-Interfax system regarding transfer of ownership rights.

The transaction took place on July 21, and as a result, Sistema subsidiary Morye Project JSC retained 77.5% of Voskhod.

Sistema's press service confirmed the transaction without disclosing its amount.

Sistema noted that this is a sale of the stake to "a specialized investor with whom [the corporation] plans further joint development of this business line," Sistema said in a statement.

"The sale of the minority stake will allow Sistema to retain control over the fisheries holding's operations, while expanding the prospects for future development and cooperation," the corporation said.

Sistema JSC [through MC Kamchatka Project LLC] has acquired Kamchatka fishing assets such as Loyd-Fish LLC, Zarya LLC, Khangar LLC, and Crystal Fish LLC since 2021.

The corporation established Voskhod Fishery Holding in the fall of 2021. In 2022, the corporation told Interfax that holding would be developed on the basis of the assets of Crystal Fish LLC, Khangar LLC and Zarya LLC; the holding's facilities will combine in-house extraction, processing, storage and trading, and the total catch volume will be 27,000-35,000 tonnes per year.

Olga Zachinyaeva established JSC Crowninvest in April 2023; the company's activities include processing and canning of fish, crustaceans and mollusks, and trading in food products, including fish, crustaceans and mollusks. In spring, she also established JSC Rusinvestholding, which carries out similar operations.