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Commodities

Bunge sells its grain terminal in south Russia, Sberbank says

MOSCOW (Reuters) - Agricultural commodities trader Bunge has sold its Rostov grain terminal in southern Russia to former top managers of state grain trader United Grain Company, Russian bank Sberbank, which helped to finance the deal, said on Thursday.

Bunge is the “B” of the so-called ABCDs of global grain trading, which also includes rivals ADM, Cargill and Louis Dreyfus. It has been scaling back its Russian grain trading activities in recent years.

Russia’s largest lender Sberbank, which financed the deal, did not disclose the transaction price in a statement it released about the sale.

The terminal with a nominal annual transhipment capacity of 1 million tonnes and storage capacity of 42,000 tonnes will be open to all market players, its new owners Marat Shaidayev and Alexei Chemerichko said in the statement.

Bunge did not immediately reply to a request for comment.

Reporting by Gleb Stolyarov and Polina Devitt; editing by Kirsten Donovan

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