One of the largest milk producers in the country — holding EkoNiva Stefan Duerr — optimized the structure of shareholders. Among the owners of the parent company Ekosem-Agrar AG went head structure of Alfa-Bank, ABH Financial and the debts to the Bank is transferred to the Bank. As a result the share of Mr. Duerr, in the company rose 16%, to almost 60%. The exit lender from among the shareholders will give the basic owner of EkoNiva more flexibility in making decisions, analysts say.About changes in the structure of shareholders holding EkoNiva, one of the largest milk producers in Russia, is told in the report of the parent company — German Ekosem-Agrar AG. As noted in the document, in March 2020, the Russian agricultural Bank (Rosselkhozbank) has received all commitments to Alfa-Bank. At the same time the main shareholder of the EkoNiva Stefan Duerr became the owner Ternata Holding GmbH, which belongs to the Cypriot Torentina Ltd. This structure, in turn, owns 16% of Ekosem-Agrar AG. Before Torentina Ltd belonged to the parent company of Alfa Bank, ABH Financial, according to the newspaper “Vedomosti”. Alfa-Bank no longer has a share in the group, it said in statements. Now Stefan Duerr directly and through Torentina Ltd owns 58,84% Ekosem-Agrar AG, others belong to the Supervisory Board and the management.At the end of April 2020 EkoNiva managed farms on 103 thousand milch cows, and by the end of the year the figure is expected to reach 110 thousand goals that will allow the company to produce about 1 million tons of milk a year, said in statements. Turnover Ekosem-Agrar AG in 2019 increased by 50%, to €565 million, EBITDA increased by 44% to €167 million of Net profit was €36 million against €is 14.37 million a year earlier. The group’s financial liabilities at the end of 2019, and in particular to Russian banks,— €378.5 million Total liabilities — €1.88 billion, which is 59% higher than a year earlier.Mr. Duerr explained “Kommersant” that Rosselkhozbank has offered more favorable conditions. Negotiations with the Bank are ongoing, he added. In Rosselkhozbank and Alfa Bank operational comments did not provide. Gazprombank senior analyst Marat Ibragimov said that the exit lender from among the partners of EkoNiva will give the basic owner more flexibility in decision-making. The creditor and the shareholder, as a rule, different goals, if the first is interested in the return of the debt, the second — to increase business value, he says.Managing Director of rating Agency “National credit ratings” Stanislav Volkov notes that the banking business does not involve long-term strategic investments in non-financial companies. Rosselkhozbank in this sense, closer to the Institute of development, therefore, ready to keep the profile for it assets longer than private banks, he says. Anatoly Kostyriv
