September 21, 2023

Cargill to sell stake in Russian grain terminal



Cargill said on September 14 it had agreed to sell its stake in a Russian grain terminal to Russia's Delo Group.

"In line with Cargill's earlier announcement to stop the export of Russian grain in July 2023, we can confirm we have reached an agreement with Delo to sell our 25% stake in our KSK grain terminal in Novorossiysk," the company said in a statement. It added that the sale was contingent on the Russian government's approval.

A company spokesperson declined to give financial details of the deal.

A representative for Delo, a transport and logistics group, said the Russian government's foreign investment commission was reviewing the deal, and this was expected to take no more than a month.

- Reuters

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