Bankrupt Vamin will be divided into parts
Vagis Mingazov, founder of Vamin Tatarstan, intended to offer loan suppliers corporate securities in exchange for debts, but banks denied the offer. The company’s debt totals 19 billion rubles. Representatives of VTB Bank, one of the main creditors of the bankrupting company, consider the offer revealed by Vamin founder via Mass Media to be inappropriate. The bank believes it to be an attempt to prolong the procedure of dispute settlement.
At the moment the bankruptcy supervisor, Sergey Afanasyev together with the local Ministry of Agriculture are preparing the enterprise for restructuring. It is planned to divide Vamin into several vertically-integrated holdings with farms within the municipal district borders.
According to Andrey Danilenko, Chairman of the Board of Souzmoloko, Vamin was considered the 3rd after Danone and Wimm-Bill-Dann dairy producer in volume terms and the largest in Russia milk processing enterprise. A certain market share for other players and import becomes free, said the expert.
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