Sunolta Group purchased some port logistics facilities and equipment owned by GNT Group (Olimpex Coupe International grain terminal) held by Ukrainian banks as collateral for the company’s debt.
By investing in the port assets, Sunolta implements a strategy of expanding its logistics capacity, substantially strengthening its stance in the agrarian market, securing business stability, and minimizing risks for the exportation of its products. When exporting grain, Sunolta Group can rely on stevedoring services provided at its own facilities, thus reducing the effect of external market factors.
It was reported that the seaport operations in Ukraine were suspended due to the all-out russian aggression in 2022. Grain could only be exported by rail or road. A substantial amount of the produce was held in storage facilities for too long, spoiled, and had to be destroyed later.
Moreover, in December last year, a public legal spat between GNT Group and its creditors broke out regarding the Olimpex Coupe International terminal. Both parties to the conflict made statements about potential interruptions of the grain terminal operations, and because Sunolta used services of this terminal in the Odesa Port, it affected the shipments of the company’s produce.
Considering all these circumstances, the Group decided to invest in the grain terminal and expand its export capacity with its own logistics facilities.
The port facilities of Olimpex Coupe International purchased from some creditors enable Sunolta to rely on a full suite of stevedoring services while exporting its products.
Sunolta Group is considering further investments into expanding the logistics facilities in the Odesa Port, for instance, by buying out other assets owned by Olimpex Coupe International from the creditors holding them as collateral.
