OREANDA-NEWS. Russian Sea Group announces finalization a series of agreements to sell Russian Sea CJSC to a group of investors. This deal provides optimization of the Group structure and ensures its financial stability for further development of other core areas of Group business and perspective projects.

According to the agreements reached with a group of strategic investors, assets and liabilities of Russian Sea CJSC is acquired for USD 52 million. The corresponding decision was approved by the Group Board of Directors.

The main asset of Russian Sea CJSC is production facility in Noginsk, producing preserved fish and seafood from chilled Norwegian salmon and trout, and salmon roe. For a long time the Company is the least profitable business of the Group, not being strategically required to implement long-term development plans.

Funds received from the deal will be used to reduce the Group debt, and, as a result, leads to significant improvement in its financial performance and financial stability. The deal also allows to concentrate Group efforts on development priorities: commercial fish breeding (aquaculture), distribution of the fish products, and exploring new opportunities of its activity.