The buyer, Agroinvest Group controls a total landbank of more than 450,000 ha, and is not a subject of sanctions and is an independent third party, says Don Agro.
Russia-based, Singapore-listed Don Agro International plans to sell four of its subsidiaries to another Russian company, Agroinvest Group, for 6.2 billion roubles, or $113 million, in cash.
These four units control a landbank of around 67,000 ha and are primarily in crop farming and milk production. Citing an estimate from a valuer, Don Agro says these four entities are valued at $106.4 million.
