The ex-owner of Magnit, Sergey Galitsky, is reducing his participation in the sunflower oil production business

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The former owner of «Magnet» Sergey Galitsky reduced from 75% to 40% his participation in the business, which is engaged in the production of sunflower oil and sauces SPP &South» in the Krasnodar Territory. This is reported by the publication «Kommersant ».

According to preliminary data, Sergey Galitsky transferred his shares to partners who previously worked with him in Magnit. It is known from open sources that the company JSC "United Capital" in the middle of May this year reduced its stake in LLC SPP "South" from 75% to 40%. Currently, 25% of the company went to businessman Aslan Shkhachemukov, 10% to Aram Fundukyan, and another 25% was retained by Vladimir Khashig.

The reasons for getting rid of shares in the business are not entirely clear, analysts reported that high export demand could stimulate an increase in sunflower oil production in Russia by 25% this year.