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. Last Updated: 07/27/2016

SBS-Agro Takeover

MOSCOW -- Russian Deputy Prime Minister Gennady Kulik, who is in charge of agriculture, on Tuesday called for the government to take a controlling stake in main farm sector bank SBS-Agro.

The government has already pledged to give loans to what was Russia's second largest retail bank.

"In my opinion the government should take 51 percent in SBS-Agro as collateral for its help," Kulik told journalists.

Kulik said SBS-Agro had proposed a rescue plan that envisioned the government owning a 25 percent stake plus 25 percent and one share as collateral.