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Sistema has Acquired First Cavalry Army Stud Farm
5.01.2012 08:32
Sistema has Acquired First Cavalry Army Stud Farm

Sistema JSFC has won an open auction to have the right to acquire a 100% stake in OJSC First Cavalry Army Stud Farm from the State for RUB 303 million.

The auction was held on December 28, 2011 in accordance with a decree of the Federal Agency for State Property Management. OJSC “First Cavalry Army Stud Farm” is located in the Rostov region of the Russian Federation and occupies 21.5 thousand hectares of agricultural land, including 17.5 thousand hectares of arable land.

The acquisition of this asset is in line with Sistema’s strategy to enter new sectors. It is anticipated that the deal will be closed in the first quarter of 2012 after the execution of the necessary documentation and completion of payment.

Sistema JSFC (“Sistema”), the largest diversified public financial corporation in Russia and the CIS.

Author: Irina Fomina

Tags: business     

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