French company Sucden denies plans to sell its business in Russia
French sugar producer Sucden has denied reports that it might sell its assets in Russia. "The company has no intention of selling its Russian assets," Etienne Pelletier, CEO of SDS LLC (Sucden's Russian subsidiary), said in a statement released by the Russian Sugar Producers Union (Soyuzrossakhar).
Sucden has been operating in the Russian market since Soviet times and, as the largest foreign investor in Russian agriculture and the Russian sugar industry, provides jobs for more than 4,200 people, Soyuzrossakhar said.
"The company continues to operate as usual, steadfastly pursuing its approved development strategy in the Russian market. Our priority is business sustainability, fulfilment of commitments and long-term cooperation with customers and partners," Sucden's Russian subsidiary affirmed in a statement quoted by Interfax.
On Friday, 27 February, the newspaper Izvestia reported that Gazprombank intends to buy Sucden's assets in Russia. According to Interfax, these consist of four factories with a combined annual production of more than 800,000 tons of white sugar, as well as more than 250,000 hectares of agricultural land, which experts estimate to be worth RUB 50-65 billion.
Sucden owns the Dobrinsky and Yeletsky sugar factories in Lipetsk region, the Atmis factory in Penza region, and the Tbilisi factory in Krasnodar region.
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06.03.26