Kernel Holding S.A. has confirmed that it has completed an acquisition of approximately 200 000 t of grain storage capacity.
The contract also includes 92.1% interest in a farming business that manages more than 190 000 hectares of leasehold farmland.
The company anticipates acquisition of the remaining 7.9% interest prior to 1 July 2017.
Kernel Holding will pay US$155 million in cash for the 100% interest in the business, which has a positive net working capital less net debt in excess of US$30 million.
The Antimonopoly Committee of Ukraine approved the deal in May 2017.
Read the article online at: https://www.drybulkmagazine.com/material-handling/15062017/kernel-holding-secures-200-000-t-of-grain-storage-capacity/