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retail points of sale. The new holding is controlled by owners of Dixy, Bristol, and Red & White, namely Igor Kesaev (Forbes-estimated fortune of $3.2bn), Sergei Katsiev ($1.3bn), and Sergei Studennikov ($850mn). Kesaev and Katsiev hold 51% in DBKR and Studennikov the remaining 49%. All three brands will be maintained, with Dixy continuing its focus on food products, Red & White on alcohol, and Bristol on tobacco products, Studennikov told Vedomosti. The management teams will also be separate for all three brands. Previously analysts surveyed by the daily estimated the value of merged assets at about RUB100bn, noting that the valuation could almost double by 2020 with the revenues reaching up to RUB1 trillion. Dixy delisted from Moscow Exchange in 2018 and bought out the largest minority shareholder Prosperity Capital Management (PCM) for RUB8.9bn for 20% stake. Previously the analysts saw Dixy's treatment of the minority shareholders as fair. The delisting was undertaken because of the unsatisfactory results in 2017.
Over half of Russian retailers are not ready for new recycling rules
proposed by the Ministry of Natural Resources, Kommersant daily reported on September 18 citing a survey by Delovaya Rossiya association. The ministry previously suggested introducing the full recycling of goods and packaging, instead of the current system that allows retailers either to utilise 5%-35% of packaging, paper, apparel, tyres, electronic and other goods or to pay an "ecologic duty" that only raised a total of RUB2.2bn ($34mn) in 2018. As reported by bne IntelliNews, by introducing full recycling the ministry hopes to boost duty collections to RUB136bn. The new rules could be formulated and proposed by mid-2020.
9.1.6 Agriculture sector news
Grain exports from Russia will exceed 47mn tonnes in 2019-2020 agricultural season, the head of the Russian Grain Union Arcady Zlochevsky
87 RUSSIA Country Report October 2019 ww.intellinews.com