AgroGeneration, a French agricultural company with assets in Ukraine, has completed a merger with the Harmelia agricultural holding (Kharkiv region), which belongs to SigmaBleyzer Group. AgroGeneration appointed Harmelia’s previous head John Shmorgun as its President. At the October 11 extraordinary general meeting, an overwhelming majority of the shareholders backed all the merger terms set out in May, when the companies announced their intention to merge. In particular, the joint venture retained AgroGeneration’s name, and SigmaBleyzer got 62% of its stock in exchange for a 100 percent stake in Harmelia.

AgroGeneration founder Charles Beigbeder will keep another 11.2% of the stock. In addition, the shareholders approved a new board of directors consisting of even members: six from SigmaBleyzer and five from AgroGeneration. Michael Bleyzer was appointed as the board chairman and Pierre Danon as his deputy. The agency reported that in October the Antimonopoly Committee permitted Konkur Investment Limited (Cyprus) to gain control over the French agricultural company with assets in Ukraine AgroGeneration. In May, France’s AgroGeneration and Harmelia announced an intention to merge. As a result of the merger the new company will have 120 Th ha of land in Ukraine and storage spaces for some 200 KMT of grains and oilseeds. AgroGeneration was founded in 2007 by French businessman Charles Beigbeder (brother of the writer Frederic Beigbeder). It controls six farms in Sumy, Zhytomyr, Ternopil and Lviv regions, cultivating wheat, barley, corn, rapeseed and sunseed. Harmelia is controlled by the SigmaBleyzer international investment company. SigmaBleyzer started agriculture investments in 2010, with up to 80 Th ha of farm land in Kharkiv, Poltava and Sumy regions now.


 

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