Steppe Agroholding Gains Full Control of RZ Agro

Steppe Agroholding has acquired full control of RZ Agro after parting ways with French partners associated with Louis Dreyfus. The amicable separation leads to a management change, although the deal specifics remain undisclosed. RZ Agro manages agricultural land focusing on grains and oilseeds in Southern Russia.

In a strategic move, Steppe Agroholding has taken full ownership of RZ Agro, severing its previous collaboration with the French family linked to global grain giant, Louis Dreyfus. According to Interfax, the acquisition was anticipated and concluded amicably some time ago, resulting in a notable management shift within RZ Agro.

The details of the agreement, such as the financial specifics, were not disclosed. However, it is rumored that the acquisition was finalized at a substantial discount. Steppe, which is under the ownership of Russian conglomerate AFK Sistema, chose not to comment on the matter, as reported by Interfax.

RZ Agro, which manages over 100,000 hectares of arable land in Southern Russia, specializes in the cultivation of grains and oilseeds. Meanwhile, Louis Dreyfus Company (LDC) has progressively reduced its operations in Russia since the geopolitical tensions in February 2022, and it ceased exporting Russian grain as of July 1, 2023.

(With inputs from agencies.)