Economy 2024-06-15T05:16:28+03:00
Ukrainian news
Antimonopoly Committee Allows Verevskyi’s Namsen To Acquire Over 50% Of Kernel

Antimonopoly Committee Allows Verevskyi’s Namsen To Acquire Over 50% Of Kernel

Ukraine, amcu, Antimonopoly Committee, Kernel, Namsen Limited, Namsen, Andrii Verevskyi

The Antimonopoly Committee of Ukraine (AMCU) allowed the Namsen Limited company (Cyprus) of businessman Andrii Verevskyi to acquire more than 50% of the Kernel holding, one of the largest operators on the oil market.

This is stated in the message of the AMCU, Ukrainian News Agency reports.

In particular, AMCU granted permission to Namsen Limited to directly purchase shares of Kernel Holding S.A. (Luxembourg), which ensures an excess of 50% of votes in the company's highest management body.

Now Verevskyi, through Namsen Limited, controls about 40% of Kernel.

As Ukrainian News Agency earlier reported, in the 2021/2022 marketing year, the company suffered a loss of USD 41 million, compared to a net profit of USD 513 million in 2020/2021.

For the specified period, the company reduced revenue by 4.7% or USD 0.263 billion to USD 5.332 billion compared to 2020/2021 marketing year, and EBITDA - 3.7 times to USD 220 million.

The company has a land bank of more than 600,000 hectares - in 2017, Kernel absorbed Ukrainian Agrarian Investments and completed the implementation of the strategy to increase the land bank.

The company's enterprises produce products under the names Shchedryi Dar, Stozhar, Chumak Zolota.

Kernel owns 9 oilseed processing factories in Ukraine.

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