MOSCOW, RUSSIA — Russian bank VTB has acquired the remaining 30% of grain trader Mirogroup, Reuters reported.

VTB is the largest operator of Russia’s grain export infrastructure and a significant grain trader following a series of acquisitions in 2019 and 2020. The state-controlled bank said it planned to expand its grain business and then exit.

The bank bought 70% in Miro a year ago through its Demetra Holding unit.

“The increase of the stake in Mirogroup Resources ... is fully in line with Demetra Holding’s strategy of building an integrated export chain on the grain market,” Vitaly Sergeichuk, deputy head of VTB’s client relations department in market regions, told Reuters.

The bank gave no further detail and did not disclose any purchase price.

Miro does business with Solaris, a Swiss grain trading company, who is a regular participant in state purchase tenders by Egypt.