2011.06.27 | IFC to invest 16.8 mln euros in Danish co with farms in RussiaThe International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement to spend 16.8 million euros to buy a stake in Idavang A.S., a Danish holding with pig and crop farms in Russia and Lithuania, the IFC said in a press release on Monday.
The investment is expected to help the company expand its operations in Russia’s Pskov and Leningrad regions.
The project is expected to result in vertically integrated farm production from initial crop generation through final animal delivery to slaughtering facilities.
“This IFC investment is a sign of confidence in our company and of the potential of agribusiness production in Russia,” said Ole Bjerremand Hansen, the main shareholder of Idavang. “Upon completion of our long-term investment program, our production will not only reach a significant scale in the local market, but will also meet Russian and international standards of energy efficiency and clean production practices.”
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