Kernel incorporates another farm company
2012-01-26 17:08:56
One of the largest Ukrainian producers of sunflower oil and grain exporters, Kyiv-based Kernel Group, acquired 100% stake in Ukrainian Black Sea Industries, headquartered in Ilichivsk, south of Ukraine.
The asset is acquired by Kernel Holding S.A., Luxembourg, combining assets of Kernel Group. The cost of the deal is USD 140 million.
As reported, July 27, 2011 Kernel signed a preliminary agreement to purchase 100% in Ukrainian Black Sea Industries. Then the Antimonopoly Committee of Ukraine (AMCU) authorizes Kernel to acquire control over Eastern Agro Investments Limited (Nicosia, Cyprus), which combines the assets of the Ukrainian Black Sea Industries.
Group Kernel is a vertically integrated national company operating in the agricultural sector of Ukraine since 1994. It produces sunflower oil, carries out distribution of bottled oil in the country, exports oil and grain, provides services for the storage of grain and oilseeds in elevators, and also develops agricultural production.