Press digest

2019 June 7

Russia's VTB says considering buying grain terminal at Taman port

Russia’s second largest lender VTB is considering buying a stake in Russia’s Taman port grain terminal, first deputy chief executive Yuri Soloviev said on Wednesday.

The state-controlled bank wants to create a vertically-integrated player on the grain market, he said, adding that this would support the expansion of the Russian grain market’s export potential. VTB has been expanding its holdings in grain infrastructure in recent months.

Earlier Russian daily RBC reported that VTB was discussing the acquisition of a 50% stake in Taman grain terminal from Ukraine’s agricultural firm Kernel.