Russian company sells shares, land access
Pava seeks money for land, technology investments
Reports say Russian grain processing firm Pava is seeking Gulf region investors via a share sale. The sale is hoped to raise 100 million euros by granting access to valuable farmland.
The funds would be used to invest in technology and triple the company’s farmland. This move would circumvent Russian law that prevents foreign investors from owning farmland.
The deal could allow Gulf investors to use 1.24 million acres of Russian land to increase their food supplies.