Rus News Journal

War for JUTS becomes ended

by its owner ITF Group Holding

Corporate war between shareholders large Russian zernotrejdera JUgtranzitservis (JUTS) it is, seemingly, close to end. Yesterday the parties have signed the agreement that Trastkom will sell the 30 - percentage share holding ITF Group Holding which becomes unique proprietor JUTS. Participants of the market say that if disagreements between shareholders and have affected negatively business JUTS this influence was short-term.



ITF Group Holding prinadle ­ - zhit 70 % of actions of Open Society JUgtranzitservis UK Trastkom - 30 %. In 2005/ to 06 agricultural year JUTS exported from Russia, Ukraine and Kazakhstan of 3,2 million t grains. The area selhoz ­ grounds - 108,6 thousand in hectare to Russia, 21 thousand in hectare in Ukraine. The gain in 2006, according to preliminary data, has made 544 million dollars

In November, 2006 general director JUTS Cyril Podolsky has left the post at the initiative of majority shareholder ITF Group Holding. He has there and then sold UK Trastkom 30 % of actions JUTS belonging to it. Subsequently this company has declared intention to buy the remained 70 % of actions at ITF Group Holding. Trastkom said that suggested ITF to buy it 70 - a percentage package for 60 million dollars or to sell to it the 30 - a percentage package for 19 million dollars In ITF asserted that at all did not conduct conversations on sale of the package, and the price, for which Trastkom suggested to sell the package, in ITF considered overestimated. However, seemingly, shareholders managed to reach the compromise.

yesterday chairman of board of directors JUTS Grigory Sadykov has informed daily that ITF Group Holding and Trastkom have agreed about consolidation of shares of company in hands of one owner - ITF Group Holding. Press - service JUTS has sent in daily also a copy of the joint statement of the companies in which it is said that ITF Group Holding gets at UK Trastkom 30 - a percentage share holding of Open Society JUgtranzitservis having finished thus the share in possession of shares of company to 100 % .

According to the document, the transaction on acquisition of share holding JUTS will be made till April, 25th, 2007 inclusive, and then there will be respective alterations in board of directors. The document is signed by Grigory Sadykov and the first vice-president Trastkoma Arthur Sibekovym also it is fastened by the seals of both companies.

the chairman of board of directors of company P - Holding Maxim Protasov acting as the partner Trastkoma in negotiations on occasion JUTS, has confirmed that after uneasy and intensive negotiations Trastkom has really signed with ITF Group Holding the contract on sale of 30 % of actions JUTS. The contract should be closed till April, 25th, - he has told. - the price we do not name. It suits us . Has refused to discuss the price of the transaction and g - n Sadykov, but too has declared that it suits it.

on a question, whether the conflict of shareholders has affected market positions JUTS, the director for marketing of the International grain company Nikolay Damians has answered that if there was any negative influence, short-term. besides in the end of a transaction season are anyway made not so actively - he has explained.