PJSC Zhytomyrmoloko plans to sell 100% of the corporate rights in its subsidiary Novohrad-Volynskyi Cheese Plant to PrJSC Favorit Company. The transaction value may amount to UAH 47 million, with the issue submitted for consideration at an extraordinary shareholders’ meeting scheduled for July 3, 2026.
According to documents published in the SMIDA disclosure system, shareholders are being asked to approve the disposal of Zhytomyrmoloko’s 100% stake in the charter capital of the cheese plant. If approved, the company will enter into a corporate rights sale and purchase agreement with Favorit Company at the agreed price of UAH 47 million.
Before completing the transaction, Zhytomyrmoloko plans to carry out a number of corporate changes related to the subsidiary. In particular, it is proposed to increase the charter capital of Novohrad-Volynskyi Cheese Plant by UAH 80.137 million to UAH 80.368 million. The additional contribution may be made by offsetting homogeneous counterclaims.
Shareholders are also being asked to approve the transfer of part of the real estate currently owned by Zhytomyrmoloko to the cheese plant. This includes production buildings with a total area of 22,600 sq m and wastewater treatment facilities with an area of 1,170 sq m, located in the village of Natalivka, Zhytomyr Region.
In addition, the company intends to resolve issues related to pledged property and credit obligations. The meeting agenda includes the termination of mortgage and pledge agreements executed in favor of Ukreximbank as security for obligations under a general credit agreement concluded back in 2007 between the bank and Komo-Export.
At the same time, shareholders will consider changing the company’s legal form from a public joint-stock company to a private joint-stock company, as well as updating the charter in accordance with current legislation on joint-stock companies.
The main owner of Zhytomyrmoloko is Cyprus-registered WMG West Milk Limited, which holds 94.98% of the company’s shares. The ultimate beneficiaries are the heirs of former Ukrainian MP Ihor Yeremeyev — Sofiia Yeremeyeva, Roman Yeremeyev and Mykhailo Romaniv.
The potential buyer of the asset, Favorit Company, is part of the Favorit group of companies, which develops agricultural and dairy business lines. The holding’s dairy segment includes, in particular, the Haliivka Butter Plant in Zhytomyr Region. The company is owned by Olena Rosenblat with 50%, Zhanna Rosenblat with 34% and former Ukrainian MP Boryslav Rosenblat with 16%.
Thus, if the transaction is approved by shareholders, one of West Milk group’s dairy processing assets may come under the control of Favorit group, which is strengthening its position in the dairy market of Zhytomyr Region.
