Glencore selling off Ukrainian farmland

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Glencore is said to own farmland in the Ukraine through its subsidiary Renaisco B.V.
Share UA Potential | 19 March 2017
According to information of nv.ua the largest Ukrainian sunflower oil producer Kernel Holding is to purchase Ukrainian farming assets which belong to international commodities trader Glencore.
Earlier we reported that Kernel planned to significantly expand its land bank – from current 390k ha by additional 200k ha, so the deal is to be first significant step in this direction.
Ukrainian farming assets of Glencore have been locally known as Serna group. Land bank of Serna was estimated at about 80k ha (in Kyiv, Vinnitsa, Cherkassy and Odessa regions), the group also owned extensive inland silo network (more than 1M tons of storage capacities).
In Y2016 Glencore started to step out of Ukrainian farming business, having started to sell its silo business (as an example we note the deals with local grains traders Prometey and Novagro, which have been reported in local press). So, current deal is to be in full compliance with current strategy of Glencore on Ukrainian market.


Agro Group | 03.04.2017

The group «Kernel» in the near future will finish the procedure of purchasing the holding «Ukrainian Agrarian Investments» and will become the largest land user in Ukraine.
Several sources on the market reported this at once.
According to their information, for the time being the agroholding is awaiting permission from the Antimonopoly Committee of Ukraine.
Earlier, «Kernel» received permission to acquire a stake in the authorized capital of 10 agricultural enterprises owned by Renaisco B.V., «daughter» of Glencore International. Among them are OOO «Chernivchanka-Agro» (Vinnytsia region), «Buzhanskoye LLC» (Cherkassy oblast), «Vita-Kolos» (Cherkassy oblast), «Interagroinvest» (Kyiv region), «Krjazh and Ko» ( Vinnytsia region), «Luchanskoe-2 LLC» (Kyiv region), «Mriya LLC» (Vinnytsia region), «Podol LLC» (Cherkasy region), «Svitanok» (Kyiv region), «Fedyukovka-Agro LLC» (Cherkasy region ).
According to open sources of information, the land bank Glencore in Ukraine is 70 thousand hectares, the land bank UAI - about 240 thousand hectares.
Thus, the market participants state, after completion of all procedures, «Kernel group», having at the moment processed 390 thousand hectares, will become the largest land user in Ukraine with a land bank of about 700 thousand hectares.


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