Louis-Dreyfus family sells Russian agricultural firm at 'big discount', Interfax reports
"This is logical that Steppe took over RZ Agro, it was expected. The deal was closed some time ago, now the management has changed in the company. The 'divorce' with the French partners was amicable," the source said.
The deal size was unknown but it was done at "a big discount", the source told Interfax.
Steppe, owned by the Russian conglomerate AFK Sistema (AFKS.MM), opens new tab, declined to comment on the report, Interfax said.
RZ Agro controls, manages and cultivates agricultural land, focusing on grains and oilseeds production, and currently operates on an area of over 100,000 hectares of arable land in Southern Russia, according to its website.
Trading and food processing firm Louis Dreyfus Company (LDC) has been winding down operations in Russia since Moscow sent troops into Ukraine in February 2022.
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