Razgulay grain producer starts selling assets to reduce debt
2012-05-14 11:23:02
OAO Razgulay Group (GRAZ) started selling non-core assets to help cut debt and its ratio to earnings before interest, taxes, depreciatiopn and amortization, the Russian grain and sugar producer said.
Razgulay sold land and a 25 percent stake in a grain storage plant, the company said today in a statement without disclosing the proceeds.
The company is seeking to get about 6 billion rubles ($199 million) from selling some of its assets in 2012 and 2013, Interfax reported today, citing an earlier interview with Razgulay Chairman Rustem Mirgalimov.