MHP sells Crimean assets

13:12, 21.02.2017 1 min read

Myronivsky Hliboproduct (MHP) has announced a full sale of its assets in Crimea.

According to a company release on the website of the London Stock Exchange, the matter concerns JSC Druzhba Narodiv Nova, Crimean Fruit Company and Druzhba Narodiv.

Proceeds from the transaction will be used for investment, expansion of poultry production and/or expansion of the land bank.

The holding notes the cost of the transaction corresponds to the fair market value of these companies.

MHP is the largest poultry producer in Ukraine. It also deals with production of grain, sunflower oil, meat.

In January-September 2016 the holding posted a net profit of $86 million against a net loss of $37 million for the same period of 2015. Its revenues remained at the same level of the previous year, at $899 million.