Kernel purchasing Ukrainian agricultural group Agro Region from Swedish investment company East Capital

MOSCOW. Jan 12 (Interfax) - The Kernel holding, Ukraine's largest grain producer and exporter, has made a deal to acquire Ukrainian agricultural group Agro Region, the controlling share in which is held by Lithuanian citizen Aivaras Abromavicius, former Ukrainian Minister of Economy and Trade and one of the founders of Swedish investment company East Capital.

"Abromavicius is selling his Ukrainian business [...] The agreement involves the purchase of the whole group of companies, including corporate rights, the land bank, machinery and elevator capacities. Taking into account the location of the assets and the quality of the land, market participants estimate the possible sum of the deal at $100-110 million," business portal Verslo zinios reported.

The parties have already agreed upon the key conditions of the deal and expect to have it approved by the Antimonopoly Committee of Ukraine in the near future.

The business portal also reported that Abromavicius owned a 53.6% stake in Agro Region via Garna Stockholm Holding, while 44.28% is owned by East Capital Group board chairman Lars Peter Elam Hakansson.

According to open source data, Abromavicius was a key figure in the foundation of East Capital and the company's co-owner from 2002 to 2014. He also served as Ukraine's Minister of Economy and Trade from December 2014 to April 2016 and CEO of Ukrainian Defense Industry (Ukroboronprom) from August 31, 2019 to October 6, 2020.

Agro Region is a group of companies growing grain and oilseed in the Chernihiv, Khmelnitsky, Kiev and Zhitomir regions. It owns 41,000 hectares of land and elevators. Swedish investment fund Capital Asset Management AB has reportedly been the group's benefactor since 2007.

Kernel is a large global exporter of sunflower oil and grain and supplies its produce to over 60 countries, the company writes on its website. It had a turnover of $4.1 billion in 2025. Some 95% of its shares belong to Namsen Limited, registered in Cyprus.