Kernel is acquiring “Druzhba-Nova” agro holding
2013-04-12 12:29:16
According to the official information released partially directly by majority agro holding owner Andrey Verevsky and various sources Kernel is acquiring agro holding “Druzhba-Nova”. The holding received USD 150 M revenue in 2012 and farms 110 thousand hectares in Chernigiv, Sumi and Poltava region. Verevskiy purchased 80% of company’s shares, effectively becoming majority shareholder. Company’s worth was evaluated at USD 68 M. Current debt of “Druzhba-Nova” is evaluated at USD 101 M. The deal will be closed after confirmed by the Antimonopoly Committee of Ukraine. Kernel’s land bank will grow to 440 thousand hectares.
AgroInvest comment: Kernel is working towards further expanding its operations in 2013. We expect Kernel to attract additional funding to compensate for capital investment spent in the beginning of the year.