VTB Capital sends buyout offer for Novorossiysk Grain Plant again

MOSCOW, Nov 9 (PRIME) -- VTB Capital has again sent an obligatory offer to buy a 69.1% stake in Novorossiysk Grain Plant to the central bank, VTB Capital said in a statement on Friday.

The buyout price was not disclosed.

In August, VTB Capital increased its stake in Novorossiysk Grain Plant to 29.9% from 22.25%. In October, the company sent a mandatory offer to buy 46.7 million shares, or 69.2% of the issued capital, of Novorossiysk Grain Plant to the central bank.

On Tuesday, the central bank said that the offer was improper, and an official of United Grain Company (UGC), the holder of 51% of the plant, said that UGC has no plans to sell its stake.

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