June 29, 2012
Summa to participate in tender for privatisation of United Grain
Alexander Vinokurov, President of Summa said that the company is likely to participate in the tender for privatisation of 100% of the state stocks of United Grain Company, to be held in 2012-13.
He also noted that after holding the planned additional issue of the stocks of United Grain Company in favour of the group Summa, there might be made certain changes to the company's strategy.
The President of Summa added that United Grain Company has the massive investment programme. In principle, Summa fully agrees with it, as the main thesis - to create the major infrastructure company, which will strengthen the position of the Russian grains on international markets.
While commenting on the completion of two major transactions by Summa (entering into stockholders of United Grain Company, and the purchase of stocks in the transport group FESCO), Vinokurov stressed that these transactions are fully consistent with the group strategy, which priority is the block "infrastructure, transport and logistics".
