NCH Capital Stands Firm: No Plans to Sell Russian AgroGiant

U.S.-based NCH Capital reaffirmed it has no intention of selling Russian agricultural firm AgroTerra, amidst ongoing discussions involving Russia's VTB bank to purchase it. NCH remains determined to retain its asset, despite AgroTerra's placement under Russian state management during the ongoing property redistribution since the Ukraine conflict began.

In a statement that may thwart aspirations to form a Russian agricultural powerhouse, U.S. company NCH Capital confirmed its decision not to sell AgroTerra, a key agricultural landholder in Russia.

The decision comes despite talks initiated by VTB, Russia's second-largest bank, about purchasing AgroTerra. NCH, which crafted AgroTerra in 2008, asserts that it has no intentions to relinquish its hold on the company, even following its recent placement under Russian state management.

The ongoing interest by VTB links to a broader aim to consolidate and strengthen Russian agricultural assets. Yet, NCH's steadfast stance potentially complicates such plans, especially given the continued U.S. sanctions that have immobilized significant VTB assets overseas.

(With inputs from agencies.)