Kernel sells Chortkiv sugar factory and trading company for $32.5 mln
KYIV. May 29 (Interfax) - Kernel Agricultural Holding has closed a deal on the sale of Chortkiv sugar factory (Ternopil region) and a local trading company to Pfeifer & Langen Inwestycje Sp. z o.o., a Polish subsidiary of Germany's Pfeifer & Langen.
According to a report by the agricultural holding on the Warsaw Stock Exchange, the total price of the deal was $32.5 million.
the Antimonopoly Committee of Ukraine said last week that it permitted Polish-based Pfeifer & Langen Inwestycje to buy Chortkiv Sugar LLC (the village of Zavodske), established in March this year, and the sugar processing assets of Chortkiv sugar factory LLC.
Earlier Kernel decided to get out of the sugar business and sell its sugar refineries. In particular, Kernel owns Chortkiv sugar plant LLC, Tsukrove LLC (Kharkiv region), Palmirsky sugar refinery LLC (Cherkasy region), and Orzhytsky sugar refinery (Poltava region).
Kernel is a vertically integrated national company that has been working in the Ukrainian agricultural sector since 1994. It produces sugar, sunflower oil, distributes bottled oil under the Schedry Dar, Stozhar, and Chumak Zolota brands in Ukraine, exports oil and grain, and provides grain and oil crop storage services in elevators.