Avellum has advised longstanding client Kernel Holding S.A. on its USD 43.3 million cash acquisition of 100% of shares in an unnamed farming business that, according to the firm, manages over 170,000 tons of grain storage capacity and over 27,500 hectares of leasehold farmland.
According to Avellum, "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."
Previously, Avellum advised Kernel on the acquisition of 100% of shares in a large-scale farming business managing over 190,000 hectares of leasehold farmland and approximately 200,000 tons of grain storage capacity (as reported by CEE Legal Matters on June 15, 2017), and on its debut USD 500 million Eurobond issue -- the first successful corporate eurobond offering from Ukraine since 2013 (as reported by CEE Legal Matters on February 3, 2017).
The Avellum team on this most recent acquisition was supervised by Managing Partner Mykola Stetsenko and led by Counsel Yuriy Nechayev, with support from Associates Andriy Romanchuk, Andriy Gumenchuk, and Dmytro Symbiryov.
The identity of the sellers was not disclosed.
