Kernel asks AMCU for permission to buy CascadeAgro, 12 more farms of Khomutynnik

Kernel agricultural holding, one of the largest in Ukraine, may acquire CascadeAgro agricultural holding from its minority shareholder, Ukrainian businessman and ex-MP Vitaliy Khomutynnik.

The Antimonopoly Committee of Ukraine (AMCU) will consider the corresponding application from Kernel Holding S.A. to obtain permission to purchase over 50% in CascadeAgro LLC and 12 more agricultural companies at a meeting on February 11.

In early August 2020, the AMCU already issued a similar permit to purchase these companies to the head of Garez & Partners law bureau, the founder of the Wolkonsky bakery chain, investor (restaurant business, digital projects, energy) Alexandre Garese through Agartha Fund L.P. under his control (Abu Dhabi, the UAE).

According to the information on the website of Cascade Investment Fund (the Cayman Islands) of Khomutynnik, CascadeAgro agricultural holding has a land bank of 43,000 hectares, two elevators with a total storage capacity of 105,000 tonnes and two farms.

Cascade Investment Fund acquired 5% of Kernel shares in October 2015, and by the end of 2017 it increased its stake to 6.59%.

Source: www.en.interfax.com.ua