Moshkovich grabbed the terminal
Despite noteworthy rivalry, Rusagro, led by Vadim Moshkovich, successfully obtained assets that it had purportedly aimed for since 2018.
According to a DOFA source, a Rusagro division under the control of former senator Vadim Moshkovich was the victor in the tender for the Volzhsky Terminal oil production and transit hub located in the Saratov Region. As the secured claimant for the establishment, Rusagro presented a bid of 11.5 billion rubles. At one juncture, a number of key players competed for the Volzhsky Terminal, notably EFKO Group, steered by Valery Kustov, and the Sodruzhestvo Group, possessed by Alexander Lutsenko’s family.
Aston holding, managed by Vadim Vikulov, and Bio-Ton, reportedly connected to Rostec CEO Sergei Chemezov, might also have staked a claim to the business.
However, Rusagro-Balakovo LLC ultimately triumphed in the bidding for the acquisition of the Volzhsky Terminal complex within the Saratov Region. Previously, the complex was owned by Vladislav Burov's Solnechnye Produkty. In 2018, Rusagro Group, belonging to ex-senator Vadim Moshkovich, and one of the biggest producers of oil and fat commodities, sugar, and meat, procured the rights to Solnechnye Produkty entities for 34.7 billion rubles in credits from Rosselkhozbank.
The circumstance suggested that Moshkovich had been methodically trying to acquire command over Burov’s preceding holdings for quite some time. Notably, he initiated the bankruptcy of Solnechnye Produkty promptly after securing the rights to demand credits from the Russian Agricultural Bank.
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Furthermore, he lodged claims for a comparatively small sum by market values—8 million rubles—which fueled speculation that Rusagro intended to orchestrate a managed insolvency so that the creditor, Rusagro, would secure over 90% of the returns from the asset sale, while only the residue would be allotted to the other claimants.
As per unofficial accounts, Moshkovich received assistance in executing his plans from the Russian Agricultural Bank itself, under the then-leader of the institution, Dmitry Patrushev, who subsequently became the Minister of Agriculture. In October 2018, the bank inked a deal with Solnechnye Produkty, stipulating that all interest on the debt was to be settled by November 30. And, strikingly, precisely on that deadline, the Russian Agricultural Bank transferred his claims to Moshkovich’s firm.
If Moshkovich genuinely had everything “in hand,” he might have been concerned by the emergence of notable contenders. For instance, Rusagro-Balakovo LLC proposed 11.5 billion rubles for the Volzhsky Terminal, with a starting price of 3.1 billion rubles. Regionagro LLC, belonging to Vitaly Verigo, secured second position at 11.34 billion rubles. Verigo had previously been employed by the Sodruzhestvo Group of Companies, which asserts itself as the largest oilseed processor in the CIS.
Also participating in the auction were Agro LLC, which might have been acting on behalf of EFKO Group, and Meridian LLC, linked to Alexey Bogachev, the proprietor of Sistema Bank.
Moreover, Aston Group of Companies, steered by Vadim Vikulov, was also eyeing the Volzhsky Terminal. Earlier in April of this year, the Federal Antimonopoly Service received the company’s application for preliminary approval to procure the fixed assets of Volzhsky Terminal LLC.
Bio-Ton holding owner Eduard Zernin expressed that the company was also assessing the site’s capabilities. In addition, if Bio-Ton had joined the competition, it could well have emerged victorious. After all, Eduard Zernin is no stranger to Rostec. Specifically, from 2006 to 2007, he acted as CEO of the Corporate Center at AvtoVAZ, where Alexander Pronin, now an advisor to Mr. Chemezov, was vice president. Furthermore, in 2010, Pronin also served as an investor in Bio-Ton. It is conceivable that Zernin could have called upon the backing of the “powerful” Sergey Chemezov in the contest for the Volzhsky Terminal.
Regardless, the asset ultimately landed in the hands of Moshkovich, who had been circling it since 2018. One can infer that the remaining Solnechnye Produkty structures will soon be seamlessly incorporated into his holdings?
