OJSC Myronivsky Hliboproduct (MHP), one of the leading agro-industrial companies in Ukraine, which focuses on the production of poultry and the cultivation of grain, has acquired 100% of LLC Ridny Kray, whose principal activities are cultivation of grain in Khmelnytsky region in Ukraine.
A company report on the London Stock Exchange (LSE) issued on Monday reads that LLC Ridny Kray has more than 11,000 hectares under its control and will become a part of one of MHP's grain growing enterprises - CJSC Zernoproduct MHP.
"This acquisition adds further strength to our land bank, which will help us continue to increase our grain output as we drive towards our stated target of 400,000 hectares in the next couple of years," said Yuriy Kosiuk, Chief Executive Officer of MHP.
Other details of the deal are not being disclosed.
MHP's shares have been traded on the London Stock Exchange since May 15, 2008.
