June 20, 2012

Russia's Unitorg increases stake to 49% in Nastyusha Grain

From a previous 29%, Unitorg has raised its stake to 49% in Russia's Nastyusha Grain Company, Nastyusha said in a statement on Tuesday (June 19).

The deal was closed on June 15. At the same time, businessman Smbat Mikaelyan sold his 20% stake in Nastyusha, which he bought in April, the company said, without providing further details.

Nastyusha Grain Company focuses on grain trading. Founded in 1992, it has subsidiaries in Russia, Kazakhstan, and the Baltic States.

Earlier, several lawsuits were filed against Nastyusha in hopes of recovering the company's debt. However, earlier this year, the company said that the group had agreed with most of its creditors to restructure its debts.