Anti-trust agency permits Kernel to buy companies of Serbian citizen's Agro Invest Ukraine
The Antimonopoly Committee of Ukraine has permitted Jerste B.V. (Amsterdam, the Netherlands), part of Kernel Holding S.A., to acquire shares in the share capitals of 10 agricultural companies in Kyiv, Cherkasy and Vinnytsia regions belonged to Agro Invest Ukraine of Miodrag Kostic.
According to a posting on the committee's website, Jerste B.V. was permitted to acquire shares in the share capital of Agro Invest Ukraine LLC (Kyiv), Agro Logistics Ukraine LLC, Subsidiary Bohdanivske Wirfil Limited, Subsidiary Kyivska Rus Wirfil Limited, Subsidiary Kolos Wirfil Limited, Subsidiary Lan WirfilLimited (all based in Kyiv region), Dolynka-Agro LLC, Korytnia-Agro KM LLC, Lukashyvka I K LLC (all based in Cherkasy region) and Yushkivtsi-Agro (Vinnytsia region). The acquisition grants over 50% of the votes in the management body of the companies.
Kernel is the world's largest producer and exporter of sunflower oil, the leading producer and supplier of agricultural products from the Black Sea region to the world markets. The vertically integrated structure of the company is built on closely interconnected business segments: production, exports and domestic sales of sunflower oil, crop growing, exports of grains, storage and transfer of grain at elevators and port terminals. Since 2007 the company's shares have been trading on the WSE.
Agro Invest Ukraine has been operating on the Ukrainian market since 2006. It belongs to MK Group (Serbia). In 2007, the European Bank for Reconstruction and Development (EBRD) invested $7 million in MK Group and in February 2016 left the group as a shareholder.
The core business of Agro Invest Ukraine is crop planting, cattle breeding and grain storage.