Agroholding "Steppe" Gains Control Over Louis-Dreyfus Family Companies in Russia
Source: DairyNews.today
Agroholding "Steppe" (a subsidiary of AFK "Sistema") has taken full control of the company "RZ Agro" (whose main legal entity is "Russkaya Zemlya"), which it had previously co-managed with members of the Louis-Dreyfus family (France).
As of March 14, Boris Shividov has been appointed CEO of "Russkaya Zemlya." He previously took over as CEO of "RZ Agro," replacing Stephan McFarlane, who had served as CEO of "RZ Agro" since 2017 and "Russkaya Zemlya" since 2018.
Shividov is a board member of several companies under Agroholding "Steppe," including JSC "Novoplastunovskoye," "Kubanskaya Steppe," and "Imeni Geroja VOV Danilchenko V.I.," which specialize in grain crop cultivation.
Agroholding "Steppe" declined to comment on the deal.
A source familiar with the transaction confirmed to "Interfax" that the French partners of "Steppe" had exited the business, making "RZ Agro" fully owned by the agroholding. "It is logical that 'Steppe' took full control of 'RZ Agro'; this was expected. The deal was finalized some time ago, and the company's management has now changed. The 'divorce' from the French partners was amicable," the source stated.
The deal amount remains undisclosed.
According to auditing and consulting firm BEFL, as of June 2024, "Steppe," together with "RZ Agro," ranked 6th among the largest agricultural landowners in Russia, with 578,000 hectares.
Shividov is a board member of several companies under Agroholding "Steppe," including JSC "Novoplastunovskoye," "Kubanskaya Steppe," and "Imeni Geroja VOV Danilchenko V.I.," which specialize in grain crop cultivation.
Agroholding "Steppe" declined to comment on the deal.
A source familiar with the transaction confirmed to "Interfax" that the French partners of "Steppe" had exited the business, making "RZ Agro" fully owned by the agroholding. "It is logical that 'Steppe' took full control of 'RZ Agro'; this was expected. The deal was finalized some time ago, and the company's management has now changed. The 'divorce' from the French partners was amicable," the source stated.
The deal amount remains undisclosed.
According to auditing and consulting firm BEFL, as of June 2024, "Steppe," together with "RZ Agro," ranked 6th among the largest agricultural landowners in Russia, with 578,000 hectares.
