Kernel bought stakes in Stiomi Holding
2013-01-15 16:32:48
According to the information released by Interfax Ukraine Kernel purchased 24.9% in the cabinet of Stiomi Holding in Khmelnytsky region, which earlier belonged to Mykhailo Stadnyk back in May of 2012. Stiomi Holding was one of the two companies purchased by Kernel in April 2012 with a total land bank of 119 200 hectares. One of those companies is located in Poltava and was announced to be Inter-Agro Capital LLC, while the name of the other was made known only recently (Stiomi Holding in Khmelnytsky region). Stiomi Holding reported net income growth of 21.8% in 2011 and a whopping 300% net profit growth, reaching UAH 44.21 million compared to UAH 18.26 million loss in 2010.
AgroInvest comment: Significant improvement of Stiomi Holding most likely drew Kernel into the purchase of the said company, further expanding its activities in Ukraine.