Ukraine. Genero Group to acquire HarvEast’s daughter company HarvEast-Uman
2014-01-10 10:11:21
The Antimonopoly Committee of Ukraine permitted the Donetsk-based agricultural company Genero Group to acquire HarvEast Agroholding’s daughter company HarvEast-Uman with 8 Th ha of land (Cherkasy region).
The acquired stake in the daughter company’s authorized capital brings an excess of 50% of votes in its board. Genero Group is a holding company operating in Donetsk region. Its main asset is the Kronos-Don farm (organic livestock raising). One of Genero Group’s priority tasks is building a highly efficient business for producing foods with significant export potential. In September 2013, Genero Group expanded its land bank by some 23 Th ha by acquiring the farms of Illich-Agro Zaporizhzhia (Zaporizhzhia region) and Illich-Agro Uman (farmlands located in Cherkasy and Zhytomyr regions) from HarvEast Holding.