The deal between Aston JSC and Trade Port LLC was signed in 2019
The Supreme Court of the Russian Federation refused to consider the cassation of Aston Food Products and Ingredients JSC concerning the decision of the Arbitration Court of the Rostov Region to ban the rent of berths owned by Trade Port LLC, according to the court's catalogue.
In December 2021, the Arbitration Court recognized null and void the rental agreement for two plots of land and two berths on the left bank of the Don river in Rostov-on-Don. The deal between Aston JSC and Trade Port LLC was signed in 2019.
According to the Federal Antimonopoly Service acting as a plaintiff in the case, Aston should have agreed the deal, since the operation of ports and berths is one of the activities of strategic importance for ensuring the defense and security of the state, while Aston's investor is a foreign company . At the same time, Aston actually acquired a 100% stake in the authorized capital of Trade Port LLC.
Aston representatives stated that Trade Port LLC cannot be recognized as a business entity of strategic importance, as it does not actually carry out cargo loading and unloading activities, is not an operator of a sea terminal, and it is not listed in the Register of Sea Ports of the Russian Federation while FAS conclusions that the Trade Port occupies a dominant position were based on an incorrect analysis of the market for grain transshipment services. However, those arguments were rejected.
The Arbitration Court of the Rostov Region declared the transaction invalid and ordered Aston to return the property transferred under the agreement to the Trade Port. The company tried to challenge the decision, first in the Fifteenth Arbitration Court of Appeal, and then in the Arbitration Court of the North Caucasus District. In all cases, the decision of the court of first instance remained unchanged.
Aston is one of the largest producers of food products and ingredients in Russia. The Aston group of companies includes enterprises in the Rostov, Ryazan and Vladimir regions, Krasnodar Territory as well as port terminals on the Don River, a shipyard, river-sea dry cargo carriers, vegetable oil tankers, bulk carriers for transshipment of grain crops, as well as trading companies in Russia, Switzerland, Turkey, Singapore and Dubai.
100% of Aston is owned by Aston Agro-Industrial SA (Switzerland), the sole shareholder of which is IIC Inernational Investment Company PTE Ltd., (Singapore), which is controlled (100%) by Aston Management Holding Limited, registered in Cyprus.