Rusagro Group announces the closing of the 100% acquisition of JSC ”Biotechnologii” shares and control over the elevator
06.10.23Moscow, 06 October 2023 - Rusagro (London Stock Exchange trading code AGRORq, Moscow Exchange AGRODR), Russia's largest vertical agricultural holding company, announces the closing of the acquisition of 100% of the shares and control over the elevator JSC "Biotechnologii".
The elevator has a one-time storage capacity of 240,000 tonnes of grain in the Tambov region and accepts for storage such crops as wheat, barley, sunflower, triticale, corn, soybeans, rye and others.
The elevator provides a full range of services: storage, cleaning, drying, acceptance and shipment of grain and oilseed crops (wheat, barley, corn, sunflower) by trucks and railway transport.
The acquisition of the elevator will allow the Group to reduce storage costs, optimise logistics chains and generally improve the efficiency of the Agricultural Business.