Lawsuits of company “Brimstone” to company “Eurodon” and personally to head of group Mr. Vadim Vaneev have been abandoned

February 29, Rostov on Don.  Lawsuits of company “Brimstone” to company “Eurodon” and personally to head of group Mr. Vadim Vaneev have been abandoned.  

This became known according to information published on February 29 on the web site of Arbitration Court of Rostov region.   

In the evening of Friday, investment subdivision of “Alpha Group” – A1- communicated about the sale of 40 % share in the largest Russian turkey producer “Eurodon” to structures of “Vnesheconombank” (VEB).  Founder of “Eurodon” Vadim Vaneev retained control over 45 % share and 15 % share belongs to art manager and director of Mariinsky Theatre, conductor Mr. Valery Gergiev.        

By this result in fact ended a story which started on February 2 and raised wide discussion in Internet and mass media.     

On February 2, company “Eurodon” learned from publications in media that company A1 acquired 40 % share from company “Brimstone” and declared on its web site and in press release that it “shall partner “Eurodon” on putting new capacities into operation and optimization of business processes, we see high potential of growth of enterprise and possibility of not only full import substitution, but also entry into export market of Asia and Middle East, where growing of turkey is limited by water and feed base related conditions”.

At the same time there were no changes occurred in regard to the composition of participants of LLC “Eurodon”: 45 % - Vaneev V.Sh., 15 % - Gergiev V.A. and 40 % - “Brimstone Investments Limited”       

On February 9 and again from media, company “Eurodon” learned that company “Brimstone” filed lawsuits against it into court for cancellation of range of main crediting deals and withdrawal of general director of the company Vadim Vaneev from structure of shareholders.           

In the evening of Friday, February 26, investment subdivision of “Alpha Group” – A1 – communicated about the sale of 40 % share in largest Russian turkey producer “Eurodon” to the structures of VEB, accompanying this with a comment: “Having received an attractive offer we can allow ourselves to withdraw from structure of shareholders at any point of investment stage which was made in this case”.       

“Vnesheconombank” (VEB) is the largest creditor of group “Eurodon”. In 2012 VEB approved to “Eurodon-Yug” a credit line for 17.9 billions of Russian rubles for construction of turkey complex in Rostov region.     

- Group of Companies “Eurodon” implements the projects of federal scale, realizing state import substitution programs. By the time of deal, “Vnesheconombank” has been a long term business partner of GC “Eurodon”. After changing composition of owners of “Eurodon”, a structure of “Vnesheconombank” showed interest to the project as shareholder and initiated negotiations with A1 -  Vadim Vaneev says. - We will proceed to make our work aimed at filling in consumer market with healthy domestic products and creation of highly qualified working places.