Banker Roman Avdeev parted with his share in the largest dairy holding company

He also wanted to increase the stake in the agricultural holding "Econiva" of German businessman Stefan Duerr.
The structures of the Rossium concern, which manages the assets of the banker Roman Avdeev, withdrew from the capital of the parent company of the Russian agricultural holding Ekoniva, the German Ekosem-Agrar. About this "Vedomosti" told Avdeev and confirmed the main owner of the "Econiva" Stefan Duerr.

The investment fund Hi Capital, an anchor investor at the creation of which the banker acted, invested in "Econiva" a few years ago, told Dumar in the summer of 2015 in an interview with Vedomosti. Later, the share of the fund was transferred to the concern "Rossium". As of September 30, 2017, Rossium owned 3% of Ekosem-Agrar through the agroholding Agronova-L, the latter reported, the package cost 354.9 million rubles.

The deal was closed in October, said Durr. The name of the buyer, as well as the reasons for the exit of "Rossium" from the capital Ekosem-Agrar, Avdeev and Durr were not informed.

Until recently, partners were building completely different plans: Rossium planned to increase the share in the mother structure of Econiva to 10-15%. The representative of the concern then called Ekosem-Agrar a company "interesting for investments" and "one of the most effective enterprises in the industry." "Econiva", according to the industry association "Soyuzmoloko", the largest producer of raw milk in Russia: it shares the first place with the Agrocomplex. NI Tkachev, under the control of the family of the Minister of Agriculture. In 2016, Econiva increased milk production by almost a quarter to 220,000 tons. Soyuzmoko calls Eonivu one of the most efficient companies in the industry: its EBITDA margin was almost 31% for the first half of 2017, according to the company .

"We have not agreed on the terms of further partnership," Durr said. He promised to disclose a new shareholder structure later. According to the latest, the May data of Ekosem-Agrar, its owners except Agronova-L were Durr (51.4%), Cyprus Ternata (13%), whose beneficiaries are not disclosed, and management of Econiva (30%). The portfolio investor could not arrange the rapid growth of the company: now she aggressively builds new complexes, the person familiar with the Econiva business argues. In the incomplete 2017, her herd increased by 44% to 39,400 cows, the company reported.

In Russia portfolio investment in agriculture is not very common, notes Gazprombank analyst Darya Snitko, investors prefer to control business and build new projects themselves. Portfolio investors prefer a stable business with predictable returns for the long term, adds Soyuzmolok executive director Artem Belov, and in Russia agriculture is still undergoing an investment stage, booming, it is more difficult to forecast profitability, the risks are high.