Wimm-Bill-Dann gains control of Timashevsk Dairy

Alfa-Bank is the financial consultant for the transaction. Currently all interested parties are actively contributing to put the agreement into practice. Yevgeny Ioffe, Vice President of Alfa-Bank comments, “This transaction will be beneficial for all parties. Wimm-Bill-Dann will be able to expand. Shareholders entered a very promising contract. The dairy is guaranteed continued growth. The region recieves investment and the administration receives tax revenues. Wimm-Bill-Dann is capable of bringing the diary to a more dynamic developed level. It is nice to participate in this transaction where despite difficulties parties have shown readiness to negotiate in a civilized manner and as a result were quickly able to reach an understanding. In our opinion the transaction confirms that several leading Russian companies like Wimm-Bill-Dann are strategically ready to invest in the Russian economy.”

David Yakobashvili, Chairman of the Board of Wimm-Bill-Dann, further states, “We are highly satisfied that we were able to reach an agreement with our partners and shareholders of Timashevsk Dairy. The Krasnodar region has great potential, and our company has manufacturing facilities in the Kuban, expands its assortment, improves product quality, and meets consumer demand of the region. Only when the agreement will be implemented, we will quickly begin to invest into the plant, like the agriculture sector of Kuban. Using the opportunity, we again confirm our investment plans for the Krasnodar region, of which we stated earlier. Experience in reviving companies of the food sector, the investment potential of Wimm-Bill-Dann will be a major investor of Timashevsk Dairy and Kuban’s economy. Developing a business plan is under way.”

Serge Lyakhov, Chairman of the Board of Timashevsk Dairy expressed satisfaction regarding the agreement and commented stating, “We are happy that all misunderstandings have been worked out. This guarantees further development of the dairy and creates new opportunities.”