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Summa Buys Russia Grain Terminal From WJ Group, Vedomosti Says

Summa Capital, a Russian company that co-owns OAO Novorossiysk Commercial Seaport, bought a stake in a grain terminal in Novorossiysk from WJ Group, an agricultural trader, Vedomosti reported, citing people it didn’t name.

Summa, controlled by billionaire Ziyavudin Magomedov, bought a 28 percent stake in the terminal, which has the capacity to handle 3.5 million tons of grain a year, for about $40 million, the newspaper said.