Lithuania's Viciunai Group, which produces Vici crab sticks, is preparing to sell its Russian business, Russian business news outlet Kommersant reported on April 8, citing a report by Viciunai-Rus.
The company has received the consent of the Russian authorities to sell the plant, which has a production capacity of over 120,000 tons per year.
The deal has already been approved by the government's commission for control over foreign investments. The deal involves the sale of the Kaliningrad division of the Lithuanian Viciunai Group to a Russian company.
The rights of claim under loan and debt agreements totaling $29.4 million and 1.86 million euros ($2 billion) will be transferred to the Russian Ocean Group. The change of ownership will take place in the near future, according to a report by Viciunai-Rus. The buyer, according to the publication, may act in the interests of Unifrost, a large importer of fish and seafood.
Viciunai Group is the largest surimi processor on the planet, and it is also one of the largest and most economically powerful seafood producers in Europe. It is headquartered in Lithuania and has plants in Lithuania, Spain, Estonia, and Russia.
