12:01 31.05.2017

Kernel is finalizing talks on deals for 40,000 ha and 190,000 ha

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Kernel is finalizing talks on deals for 40,000 ha and 190,000 ha

Kernel, one of the largest Ukrainian agricultural groups, is completing negotiations on the acquisition of two agricultural companies with the land bank of 40,000 hectares and 190,000 hectares.

"We are close to completing two transactions, which we are going to announce soon. We are talking about two deals: one of them is for 190,000 hectares, the second one for 40,000 hectares with infrastructure and several silos," Kernel founder and chairman Andriy Verevsky said during a conference call with investors.

According to him, the land bank of these companies is close to the Kernel land bank, so after the transactions are finalized the holding will increase its assets in the regions of its presence.

Verevsky said the 2016/2017 season is coming to an end and farmers are actively selling agricultural products.

He also said the 2017 harvest will be slightly lower than last year due to spring frosts, but the reduction will not be critical.

As reported, the Antimonopoly Committee of Ukraine (AMC) allowed Kernel to buy Ukrainian Agrarian Investments with a land bank of about 200,000 hectares.

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