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17 August 2011

Sayenko Kharenko advised on the acquisition of Ukrros by Kernel Holding S.A.

Sayenko Kharenko acted as a Ukrainian legal counsel to Ukrros, one of the largest sugar producing companies in Ukraine, on the sale of 71% of its shares to Kernel Holding S.A. (Kernel), a leading diversified and integrated agri-business company operating in Ukraine.

The acquisition will substantially increase the competition on the Ukrainian sugar market. Apart from the main assets of Ukrros – its sugar producing plants, the acquisition will provide Kernel with additional 100 000 hectares of agricultural land and elevator storage facilities.

Kernel Holding S.A. is a leading diversified and integrated agri-business company operating in Ukraine. Company is a major supplier to the international market of grain and sunflower oil and meal produced in Ukraine, the largest supplier of bottled oil to the Ukrainian market.

Ukrros is a holding company combining sugar producing plants, one of the largest sugar producing companies in Ukraine.

Sayenko Kharenko team is highly reputed for diversified experience of advising Ukrainian agricultural companies. Previously the firm has advised on: USD 250 million exchange offer and USD 330 million Eurobond issue by MHP S.A., the holding company of Myronivsky Hliboproduct; more than 90 million private placement by Mriya Agro-Holding; more than USD 370 million IPO of Myronivsky Hliboproduct; the establishment of global depositary receipts program and private placement of shares by Creativ Group; USD 42 million placement of shares, establishing a global depositary receipts program, listing on PFTS and the Frankfurt Stock Exchange by UkrRos; debut USD 50 million Eurobond placement by Agroton Public Limited.

Sayenko Kharenko team for the current transaction included counsel Dmytro Korbut, associates Olga Atamanchuk, Julia Gubareva and Olga Kovernyk, led by partner Vladimir Sayenko.

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