Agrogeneration and Harmelia are undergoing merger
2013-10-08 12:37:39
According to the official information released by the Antimonopoly Committee of Ukraine, Agrogeneration and Harmelia are merging into new holding enterprise. 62% of shares of the newly formed business entity will belong to Harmelia stockholders, while other 38% will belong to Agrogeneration stockholders. The newly formed holding will have a land bank of 120 thousand hectares and total grains and oilseeds storage capacity estimated at 200 thousand tons. Merger approval is expected to take place at Agrogeneration meeting on October 11, 2013. Newly formed holding will still be named Agrogeneration, as its share will still be traded on NYSE Alternext Stock Exchange in Paris.
UkrAgroConsult comment: Merger of this scale is one of the few over the past several years in agrarian sector of Ukraine. While we have witnessed many acquisitions, merger remains relatively unknown form of consolidation in the sector. We will be monitoring the process closely, further looking into the process and its effects on the performance of the parties involved.
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