Company from Saudi Arabia bought a large Ukrainian agricultural holding

Компания из Саудовской Аравии купила крупный украинский агрохолдинг

Agricultural holding Mriya changed hands

The Saudis have stated that they intend to invest in the development of the holding company Mriya that would ensure its long-term profitability.

Company from Saudi Arabia bought a Ukrainian agricultural holding Mriya. The signing ceremony of the contract of sale took place on Wednesday, 12 September in Kyiv. The President Petro Poroshenko, present at the conclusion of the deal, wrote on his page in Facebook.

The agreement was signed by the Chairman of the Board of Directors of the agricultural holding, former Minister of agrarian policy Alex Pavlenko and managing Director SaudiAgriculturalandLivestockInvestmentco(SALIC) Khaled al-Aboodi.

“The contract between Mriya and SALIC does not mean the purchase of Ukrainian land. It means buying Ukrainian assets, increase the level of investment in agriculture and the level of technologies that will enhance productivity, export, and create new jobs”, – said Poroshenko during the ceremony.

After completion, the dream will unite with the Saudis owned by Continental Farmers Group. It is composed of Ukrainian agro LV limited, Agromark Ukey, Ukey Irrendentist, grain land.

“Our subsidiary CFG successfully working in Ukraine since 2006, processing 45 thousand hectares in the Lviv and Ternopil regions. Given the positive experience of investments into the Ukrainian economy, SALIC UK took the decision to expand the business. With today’s acquisition of Mriya ideal for investment criteria SALIC UK, and the company needs investments will provide long-term profitability of this excellent asset,” said al-Aboodi.

Previously, the holding company of Mriya belonged to the family of Ukrainian businessman Ivan Guta. In 2014, the company defaulted and came under the operational control of creditors, who appointed CEO Simon Cherniavsky.

In August, 2018 Mriya has completed the restructuring of debt, which they declined to 309,5 million dollars. Under the terms of the restructuring, all the assets of Mriya was transferred to the ownership of the new holding company Mriya Farming PLC.

The group dream now handles 150 thousand hectares in six regions of Western Ukraine: Ternopil, Khmelnytsky, Chernivtsi, Ivano-Frankivsk, Lviv and Rivne. To its credit Mriya has 4 modern Elevator complex with total capacity of 380 thousand tons, potato storage total capacity of 52 thousand tons, seed and starch factories.

The company specializiruetsya on the cultivation of wheat, rapeseed, barley, sunflower, soybean, corn, sugar beet, potatoes and other crops.

As reported Корреспондент.net in January 2017 the agricultural holding Mriya has regained corporate law 10 legal entities and their land assets in the amount of 5 thousand hectares in Ternopil, Khmelnytsky, Ivano-Frankivsk and Chernivtsi regions.

Earlier it was reported that in the winery launched a plant for production of refrigerators.

 

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