PRESS: Major shareholder may sell Cherkizovo Group – sources

MOSCOW, Dec 13 (PRIME) -- The family of Igor Babayev, which owns 89.5% in Russian meat producer Cherkizovo Group, is considering selling its business, Kommersant business daily reported Wednesday citing sources.

The talks have been held with Thailand’s CP Foods for several months already, while a month ago CEO Sergei Mikhailov met with Vadim Moshkovich, the majority shareholder of agricultural group Rusagro, on this issue, the daily said.

One of the sources said that owners appraised Cherkizovo Group at U.S. $2 billion.

A representative of Cherkizovo denied plans to sell the business.

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