KSG Agro signed agreement with Credit Agricole
2012-04-05 14:49:50
KSG Agro and Credit Agricole signed an agreement recently stating their intentions for further cooperation. The first step of this cooperation is setting UAH 24 M (USD 3 M) credit line, which will be used for working capital by the agro holding. KSG Agro is hoping to extend the credit line to UAH 48 M in the future. KSG Agro head of treasury operations stated that credit line granted to the company by one of the few banks specializing in agriculture sector in Ukraine is a true testimony of company’s success and prospective for growth.
AgroInvest comment: Reminder: KSG Agro already attracted USD 10.9 M investment from Deer Credit, financial subsidiary of U.S. John Deere in January this year. Company also stated to cooperate with Polish Company in production of pellets recently. Company has yet to release its financial results of 2011 yet we assume overall improvement in the main financial indicators.
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