U.S.-based commodities trader Cargill denied it had sold its stake in a Russian grain terminal to Russia’s Delo Group.
Russian media reported that Delo, a transport and logistics group, was buying out Cargill’s stake of 25% plus one share in the KSK grain terminal in the Black Sea port of Novorossiysk.
“I can confirm this is not true,” a Cargill spokesperson said in an email.
The spokesperson did not immediately respond when further asked if Cargill was in talks with Delo or anyone else to sell the stake. No comment was immediately available from Delo.
Many Western companies have pulled out of Russia since its February 2022 invasion of Ukraine, often taking heavy losses on the sale of their local businesses.
Source: Reuters.com