As reported on the website of the AgroGeneration agricultural holding with land assets in the frontline Kharkov region, Konkur Investments Limited, a subsidiary of the American investment company SigmaBleyzer will sell almost 126.1 million shares of the agricultural holding at a price of $0.036 per share.
The total cost of the transaction is $4.5 million plus repayment of $3.2 million of debt on the current account.
The new owner of AgroGeneration, if approved by the Antimonopoly Authority and the transaction is completed, will be the Kharkov group of companies Novaagro of Sergei Polumysny.
The press release notes that, given the turbulent situation in Ukraine and the ongoing war, the completion date of the agreement cannot be determined today.
The French company AgroGeneration with assets in Ukraine was founded in 2007 and specializes in the production of grains and oilseeds. 56.90% of AgroGeneration shares belong to the investment holding Konkur Investment Ltd, managed by SigmaBleyzer, the remaining 43.10% are traded on the stock exchange.
As a result of the war, the company's capital assets and inventories were destroyed, and several farms were liquidated. The total damage is estimated at €16.7 million.
