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Rusagro
Russian agricultural company From Wikipedia, the free encyclopedia
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Rusagro (Russian: Русагро) is one of Russia's largest agricultural companies,[2] and a major producer of pork, fats and sugar.[3] It was established in 1995 as a sugar producer.[4] Maxim Basov is the company's Chief Executive Officer.[3]
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In 2001, Rusagro bought Rosprod, a rival sugar trading firm.[5] By 2005 the company co-owned nine sugar beet farms in Belgorod Oblast.[6]
The company originally planned an IPO for 2010, which was delayed due to the volatility of the Russian market.[7] The company was listed on the London Stock Exchange in April 2011. Prior to the IPO, 95% of Rosagro was controlled by company founder Vadim Moshkovich and his family.[8]
The company has grown significantly after 2014, benefiting from the weaker ruble,[9] as well as bans on pork imports from the European Union.[10] In 2016 the company filed a bankruptcy claim against Razgulay.[11] Since 2016 the company exports corn to the Asia-Pacific region through its subsidiary in the Russian Far East.[12] In 2017 it announced plans to expand meat production to northeastern China,[13] and to invest $1 billion in dairy production.[14] In September 2021, CEO Maxim Basov announced that SPO and call for money is beyond Rusagro scope.[15] Meanwhile, in the same month, Maxim Basov increased his stake from 7,5 to 7,73% during “Rusagro” SPO, buying 250000 GDR for 3,47 million dollars. Maksim Vorobyov, businessman and brother of governor of Moscow Oblast Andrey Vorobyov, in his turn, has bought 10,14% of shares of Rusagro, becoming the second largest shareholder after Vadim Moshkovich (51,7%)[16]
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