Astarta plans to use the loan to finance modernization, including of sugar production, with a view to subsequently increasing its export potential, Ukrainian media reported, citing a company filing on the Warsaw Stock Exchange.
Astarta is a vertically integrated agribusiness group that includes sugar refineries, crop farms with 220,000 ha of land, dairy farms, an oil extraction plant, elevators and a biogas complex. The company's principal shareholders are the family of its founder and CEO Viktor Ivanchik with 40.68% and Fairfax Financial Holdings Ltd with 29.91%.
Privatbank is Ukraine's largest bank by assets.
