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LUXEMBOURG and NEW YORK, July 2, 2012 /PRNewswire/ -- Sodrugestvo Group S.A. announced an agreement in which Mitsui & Co., Ltd. has become a 10-percent shareholder in Sodrugestvo and both companies will become strategic partners in some of their respective business activities. The details of the transaction were not disclosed; Mitsui's 10 percent stake in Sodrugestvo is based on an enterprise value of approximately US $2.2 billion.
In conjunction with the share purchase by Mitsui, the two global companies have signed a strategic agreement whose main elements include 1) an alliance in the origination, export and marketing of grain from Russia and other former Soviet Union countries; 2) support for Mitsui's participation in the feed and livestock business in Russia and other former Soviet Union countries where the demand for and production of meat has been growing; and 3) a collaboration in the soybean origination, processing and distribution business in Brazil between Sodrugestvo's Alianca (previously known as Carol-Sodru) joint venture and Mitsui's Multigrain grain farming and logistics subsidiary.
The collaboration in the origination and export of grain produced in Russia and other former Soviet Union countries provides a preferential right to Mitsui for grain supplied/exported by Sodrugestvo. Mitsui plans to develop marketing outlets for the grain in the Middle East and Africa as well as with existing clients mainly located in Japan and Asia. In addition, Mitsui will share its expertise in the international grain trading business with Sodrugestvo as well as provide global market intelligence from its global trading network.
Commenting on the strategic partnership, Stephane Frappat, chief executive officer of Sodrugestvo said, "Mitsui is one of the world's most respected, multi-industry companies with over a century of global business experience. Mitsui meets the criteria for strategic partnerships that we have developed. Sodrugestvo seeks best of breed companies that know the market, have a strategic plan that syncs with ours but doesn't compete and shares a long-range vision for marketplace expansion."