Vnesheconombank, which controls Eurodon Group, summed up the preliminary results on the assessment of the enterprises in the group. This was told by a source close to the company management. The work, which began in the winter of 2018, showed that the preliminary market value of the asset can be at least 10 billion RUR ($ 152.86 million).
The Eurodon Group press service noted that the company plans in March to complete the inventory, and then get the final results of the assessment. Today the company has already been audited for 2018 according to international financial reporting standards.
Now VEB is considering the option under which Eurodon can be placed in operational management at the expense of the investor’s own funds. This decision will allow the bank not to spend its funds on asset management. If a new investor can successfully manage the group's divisions, the bank will be able to discuss with him the opportunity to pay off part of the group's debt to a financial institution.
Before the transfer of Eurodon to a new operator or investor, the company will need to complete the commercial slaughter of all poultry (about 960,000 heads) by July, and after that complete sanitary cleaning of the sites. This measure will stop a series of outbreaks of avian flu. The market can more favorably treat a 'pure' asset in order to build a technical chain anew. Slaughtering of all poultry and sanitary cleaning of sites is the only condition under which a new investor can enter Eurodon, Albert Davleev, president of Agrifood Strategies consulting company, said.
Source: meatbranch.com.
