Avellum has advised its longstanding client Kernel Holding S.A. on the acquisition of 100% of shares in a large-scale farming business that manages over 190,000 hectares of leasehold farmland and approximately 200,000 tons of grain storage capacity. The value of the deal was USD 155 million. The Antimonopoly Committee of Ukraine approved the acquisition in May 2017.
Kernel is the largest Ukraine-based diversified agribusiness company in the Black Sea region with a share listing on the Warsaw Stock Exchange. It is also a leading exporter of, among other products, sunflower oil and grains.
Earlier this year Avellum advised Kernel on its debut USD 500 million eurobond issue, which was the first successful corporate eurobond offering from Ukraine since 2013. (As reported by CEE Legal Matters on February 3, 2017).
The Avellum team that advised Kernel on this transaction was led by Counsel Yuriy Nechayev, with significant support from Associates Andriy Romanchuk and Andriy Gumenchuk, all working under the general supervision of Managing Partner Mykola Stetsenko.