Leading Ukrainian sunflower oil producer and exporter Kernel has sold its 50% stake in Taman Grain Terminal Holdings, a joint venture owning Taman Grain Terminal Complex (TGTC) in Russia, latifundist.com reported on 23 March.
Kernel’s 50% stake in the venture was purchased by Demetra Holding, a subsidiary of VTB Group. Glencore Agriculture retained its 50% share in Taman Grain Terminal Holdings.
TGTC is a deepwater grain export terminal in Taman port, Russia.
Kernel and Glencore had acquired 100% of the shares in TGTC in 2012 from specialised fats and vegetable oil/mayonnaise producer EFKO Group, lafundist.com reported.
VTB is a Russian state-controlled bank and a major grain trader following a series of acquisitions in 2019.