To the surprise of the market participants, the proceeds of the Civil Code "Rusagro" in the first quarter of 2016 increased compared to the same period last year by 26% and amounted to 17.738 billion rubles, according to company statements.

However, group profit for the first quarter of 2016 decreased to 367 million rubles from 4.251 billion rubles a year earlier. Indicator stunning.

In "Rusagro" justified by the fact that the profit decline was influenced by "paper" loss on revaluation of biological assets. Excluding this factor, net profit decreased by 33% to 3.162 billion rubles.

Note that the primary interest "Rusagro" (75%) belongs to the family of ex-senator from the Belgorod region Vadim Moshkovich, 1.8% are in the group (treasury shares) owned another 7% is owned by the Group's CEO Maxim Basov.

The free float on the London Stock Exchange are 16.2% of the company. But with them the entrepreneur is also a problem: in April, "Rusagro" this year has already started placing SPO. Piquancy in the fact that part of this amount - up to $ 100 million - may come from agricultural holding founder Vadim Moshkovich.

This means that to buy shares "Rusagro" no one wants, and promises to invest $ 100 million Moszkowicz so anyone not attracted ...

The seriousness of the problems became known billionaire when he declared in 2015 that the developer gets rid of the company's business - "A101 development".


Recall that the Federal Antimonopoly Service of Russia approved the application of the Civil Code "Rusagro" to acquire 100% shares of JSC Kursk "Kshensky sugar plant" (part of the holding "Razulyay"), according to the documents department.

At the end of March, it became known for the sale of "carousing" group "Rusagro" three sugar factories in Orel and Kursk regions. In addition to "Kshenskogo sugar mill" Holding announced its intention to sell JSC "Sugar Plant" Otradinsky "(100%) and JSC" Krivets-sugar "(97.25%).

Earlier, in November 2011, the owner of "Rusagro" Vadim Moszkowicz received permission to buy back 32% of agricultural holdings "Razguliay". It should be noted, in addition to VEB among the largest shareholders "Razgulyai" - Cyprus and the Virgin offshore companies: Chandlor Limited (7,6%), Atonline Limited (9,91%), Amoril Holding Limited (9,6%), Olfrin Associates Limited (8 , 23%) and Tapsaw Invest Limited (7,13%).

Earlier, the VEB would like to make an additional issue worth 3 bn rub., That would allow the State Bank to form a controlling interest and displace the current co-owner Rustem Mirgalimov.

From the materials "Razgulyai" indicated that at the exchange is planned to place 3,000,000,000 shares (now the company's authorized capital is 570 million rubles., The proportion of the additional issue in the increase of the authorized capital will amount to 94%).

Against the additional issue were Avangard Asset Management Rustem Mirgalimov (owns 29.9% "Razgulyai") and under the control of the fund Altima (8,18%), as their stakes in this case razmoyut. But now, it seems, Mirgalimov and Altima will not withstand VEB and Moshkovich.

We emphasize group "Razguliay" engaged in the production of sugar, grain and milk. Under the control of the holding is more than 340 thousand. Hectares of land. In 2014, revenues decreased by 6%, to 14.2 billion rubles. EBITDA amounted to 2 billion rubles. The EBITDA margin rose to 14% from 7%.

Most interestingly, in the autumn of 2015 the company bought a 20% share of Vnesheconombank in the agricultural holding "Razguliay" with debts. Trust a loan to buy an asset (33.9 billion rubles &) gave EBV!

Why is the state bank financing the purchase he owns himself Moshkovich asset that the loan VEB bought him ?!

It seems that the original strategy of the head of VEB Vladimir Dmitriev, who wanted to assign "Sberbank" right of claim to "carousing" selling stake at the market price of 14 billion rubles has been replaced by a better, involving Moshkovich. In February this year Dmitriev was fired ...

Now it turns out, has a supply of FAS "Rusagro" for next to nothing will get full control over the "carousing"!

Reception called "capture"

Experts say that there were questionable history with the participation of "Rusagro" Moshkovich repeatedly.

In 2013, the managers of the Voronezh "Masloproduct" Holding said about trying to raider capture structures "Rusagro" trying to bankrupt the company.

By the way, the general public, Mr. Moszkowicz became famous when he decided to withdraw from the Federation Council, to to him and his "dark dealings" have not reached the political bloggers.

In 2014 emerged a new history connected with the structures Moshkovich. Controlled by the Senator of "Prodrezerv" suspected of illegal extraction of income amounting to more than 436 million rubles. But it is only "flowers".

In the 2000s, a group of companies "Rusagro" Vadim Moshkovich became the owner of several processing plants. But the methods of creating agroimperii-bureaucrat businessman called and raise doubts among some experts and entrepreneurs.

Note from the investigation on the once closed the case on the activities led Moshkovich enterprises shows that in June 2000 a businessman using his connections with the leadership of the State Reserve, has made an advance payment for the LLC "Grechishkinskaya Grain Company" (Krasnodar region), 325 million rubles on the supply of grain in state reserve.

According to the testimony of General Director of LLC "Grechishkinskaya Grain Company" has been transferred to commercial companies ZAO "Sugar Trading Company" and ZAO "Rusagro". Some of the funds were directed in a certain company, registered on the lost passport.

The funds were used, of course, not for the purchase of grain for the state and for the purchase of real estate, shares, payment of debts.

Based on materials testing activity of one of these firms, "Favorite Prodakt" Ltd., in December 2001, the Prosecutor's Office of Krasnodar was a criminal case № 20355. During searches in the offices of the member firms of the holding Moshkovich, law enforcement officers have found a lot of fascinating documents in which business of these companies appears in quite a different light than he likes to describe Moszkowicz in numerous interviews. analytical notes were found, reports, draft records, purchasing agricultural scheme with fictitious companies, their printing, facsimile.

Also, the documents indicate the existence of a "black" box office, on the conduct of the double accounting, the use of unaccounted for accounting of cash, including the budget, and individual enterprises to reduce tax payments, and electronic media, indicating concealment income from taxation.

According to some representatives of the Communist Party, Vadim Moshkovich needed senatorial immunity in connection with a possible involvement in the illegal seizure of an oil extraction plant in Krasnodar region.

Mr Moszkowicz is trying to deceive even the state.

In the mid-2000s, his company started to deliver to Russia the so-called syrup. Moszkowicz Himself to this secret that he imported for the syrup: "We have a year" closed "syrup for avoiding the high fees," - said the businessman. In 2002-2003, the raw sugar is dissolved in water and imported into Russia under the guise of a syrup, thereby evading the payment of duties on the products supplied.

"Rusagro" by their actions remains afloat. But a number of market participants believe that the business Moshkovich to check on corruption and fraud. If the main control of economic security and anti-corruption audit of the Ministry of Interior satisfied, then Vadim soon will move to Cyprus, where he registered his company.
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