Cherkizovo says buys 75% in meat processor for 350 mln rbl

MOSCOW, Dec 26 (PRIME) -- Russian meat producer Cherkizovo Group has acquired a 75% stake in St. Petersburg-based meat processor Samson – Food Products for 350 million rubles, Cherkizovo Group said in a statement on Wednesday.

The group will also pay Samson’s 550 million ruble debt. The final value of the deal will be specified in 2019.

The acquisition will allow Cherkizovo Group to strengthen its positions in St. Petersburg and the Northwest Federal District in general.

Samson will continue operations and its management will not be changed.

(68.7448 rubles – U.S. $1)

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