Kernel sells out some of its land plots

Kernel sells out some of its land plots

The company will reduce its land bank to 560 000ha in Ukraine

Kernel will be selling its land plots that are located in a remote distance from the major fields of the company, told Eugeniy Osipov the CEO of the company. The land parcels are 1,000ha large in agricultural regions of the country. Kernel found them difficult to manage, as they are located too far from the company’s logistics routes.

The land parcels for sale are located in Kirovograd, Mykolaiv, Ivano-Frankivsk and Chernigiv regions of Ukraine. Other producers can benefit more from the lands and be more effective in them, Kernel believes.

After the optimization of lands under management, Kernel will hold 560 000ha of the country’s land plots in total. In fact, Kernel has already sold some of its land parcels under lease agreements, told the CEO of the company.

To remind, Kernel attracted USD 100mln revolving syndicated loan from several European banks. The loan matures in two years and a half and will be channeled to finance the working capital needs of the company.

Related posts