26 Apr 2024 11:28

MHP's Slovenian poultry subsidiary Perutnina to form JV with Albania's Balfin

MOSCOW. April 26 (Interfax) - Ukraine's Antimonopoly Committee (AMCU) on Thursday granted permission for Slovenian poultry producer Perutnina Ptuj d.o.o., a division of Ukrainian agribusiness group MHP, and Albania's Balkan Finance Investment Group sh.p.k. (Balfin) to form the joint venture Perutnina Ptuj Albania sh.p.k., Ukrainian media reported, citing the regulator's website.

Albania's competition regulator approved the venture on March 19.

The AMCU also gave the green light for the indirect acquisition, through the new joint venture, of more than 50% of another four Albanian companies: Driza sh.p.k., Fresh Chicken Albania 2019 sh.p.k., Industria Foragjere (VEAF) sh.a. and Euro Alb 2009 sh.p.k.

Perutnina Ptuj Albania also intends to acquire the assets of Kompleksi Patos and Qendra Prinderore, which are owned by Albanian businessman Hikmet Driza.

Perutnina Ptuj and Balfin signed a partnership agreement on the formation of the joint venture on December 8, 2023. Under the agreement, the Slovenian company will get an 81% stake and the Albanian company will get 19%, and the venture will be controlled jointly by both companies.

Perutnina Ptuj and Balfin then signed an agreement with Hikmet and Sulo Driza to buy 100% of Driza, Fresh Chicken Albania 2019 and Industria Foragjere (VEAF). The transfer of the assets will take place on the day that all preliminary conditions of the agreement, including all necessary approvals and permits, are met.

Perutnina Ptuj Albania will raise poultry and produce meat, poultry products and compound feed, as well as engage in trade and provision of services. Perutnina currently operates in Albania only through distributor Kosmonte Foods Tirana.

Balfin, one of the leading companies in Albania, specializes in investment in financial instruments, real estate and other assets, as well as provision of consulting services.

Driza raises poultry and produces meat, and also buys, processes, packages and stores plant and animal products. Fresh Chicken Albania 2019 specializes in slaughtering poultry, and purchasing, processing and cold storing plant and animal products and all types of convenience foods.

Industria Foragjere builds compound feed mills, produces and sells supplements, concentrates and vitamins (fish meal, meat meal, groats and bran). Euro Alb 2009 specializes in growing crops, and purchasing and storing plant and animal products.

MHP is Ukraine's largest chicken producer, and also makes processed meat products, grows grains and produces sunflower oil. MHP's shares are traded on the main market of the London Stock Exchange.

The group completed the acquisition of Slovenia's Perutnina Ptuj in February 2019.