United Grain Company
 | This article needs to be updated. (January 2019) |
 | |
| Company type | Joint-stock company |
|---|---|
| Predecessor | FGUP "Federal Agency for the Regulation of the Food Market" (Russian: ФГУП «Федеральное агентство по регулированию продовольственного рынка») |
| Founded | 2007 |
| Total assets | $895 million[1] (2020) |
| Website | www |
United Grain Company (Russian: Объединенная зерновая компания) is a Russian grain trading company based in Moscow and established in 2007.[2] The company conducts grain procurement activities in Russia, and manages exports on international markets.[3]
History
[edit]The United Grain Company was established on March 21, 2007 as a result of the transformation of the FGUP "Federal Agency for the Regulation of the Food Market" under the Ministry of Agriculture of the Russian Federation, the main function of which was the implementation of state regulation of the grain market.
In 2012 Ziyavudin Magomedov's Summa Group bought a 50% minus one share stake in the company.[4] In 2014 the company agreed to trade grain worth $500 million for oil with Iran.[5]
The company will build a grain terminal in the Port of Zarubino, in the Russian Far East, by 2020.[6] In August 2017 the Russian Government announced plans to privatize the company by 2019.[7]
Current owners
[edit]The shareholders of United Grain Company JSC are:
- The Russian Federation represented by the Federal Agency for State Property Management (Federal Property Management Agency) - 50% plus one share;
- Demetra Holding[8] - 50% minus one share.[9]
References
[edit]- ^ "Отчетность МСФО за 2020 год" (PDF).
- ^ "Объединенная зерновая компания". АО «Объединенная зерновая компания» (in Russian). Retrieved 26 August 2017.
- ^ "JSC United Grain Company: Private Company Information". Bloomberg. Retrieved 26 August 2017.
- ^ "UPDATE 1-Russia's Summa buys into the grain big league". Reuters. 2012. Retrieved 26 August 2017.
- ^ "UPDATE 2-Russia may exchange grain worth $500 mln for Iranian oil". Archived from the original on April 4, 2016. Retrieved 26 August 2017.
- ^ "United Grain planning grain terminal in Far East". World Grain. Retrieved 26 August 2017.
- ^ "Russia continues with privatizations, ends bids for advising on United Grain". Archived from the original on August 18, 2017. Retrieved 26 August 2017.
- ^ VTB sold almost half of the grain business. RBC. (at russian) 30.04.2020
- ^ ВТБ стал владельцем почти половины акций Объединенной зерновой компании 13 feb 2019. Until 13 feb 2019 Summa's owned stake of UGC was pledged to VTB bank