Canadian company Fairfax Financial Holdings agreed to acquire 9.99% of shares of Ukrainian agricultural holding Astarta. About it reports a press-service of the holding with reference to the message of the Warsaw stock exchange.
As reported on the website of the exchange, two of the major shareholder, the company Albacon Ventures Limited and Aluxes Holding Limited, has signed an agreement to purchase shares Fairfax Financial Holdings Limited.
Fairfax intends to buy from Albacon 450 thousand shares and 2 047 500 shares of the company Aluxes. This amounts to 9.99% of the shares of the company Astarta.
“We are pleased to welcome Fairfax as a major shareholder of our company and we see great opportunities for further development of the grove in such a strong strategic partnership,” said CEO and founder Viktor Ivanchik.
To close the transaction is scheduled to 24 February 2017, while receiving permission from the Antimonopoly Committee of Ukraine.
The agricultural holding Astarta is a vertically integrated holding company, which since 1993 operates in the field of sugar and agricultural production. The main activities of the agropromholding lies in the cultivation of sugar beet, grains and oilseeds, the production of high quality sugar and related products (molasses and dry granulated pulp), and milk and meat. The holding comprises five divisions: Poltavazernoproduct, OOO, OOO Agrofirma im. Dovzhenko, welfare, OOO, OOO Khmelnytsky and LLC Volochysk-agro. According to Astarte, in the first half, the company received up to €75 million net profit, three times higher than in the first half of 2015.