MOSCOW, June 9 (Reuters) - VTB, Russia's second largest bank, will sell its stake in one of Russia's biggest grain traders, Demetra-Holding, and is in negotiations with both Russian and foreign buyers, CEO Andrei Kostin told Reuters in an interview.
Demetra has a network of grain elevators, major deep sea grain terminals and its own logistics.
It owns a non controlling stake in major grain trader United Grain Company (OZK).
It's decided," Kostin told Reuters.
Kostin said VTB saw few prospects for itself in the grain business, adding that a sanctioned bank in the shareholding hindered the holding.
Persons:
Andrei Kostin, Demetra, VTB, It's, Kostin, Vadim Moshkovich, Guy Faulconbridge, Elena Fabrichnaya
Organizations:
Reuters, United Grain Company, Thomson
Locations:
MOSCOW, Russia, China