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Kernel Holding secures 200 000 t of grain storage capacity

Published by
Dry Bulk,

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.

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