IMC negotiates the sale of its assets to Gerega's agroholding?

IMC is negotiating the sale of part of its assets to Alexander Gerega's agricultural holding.

This information was shared with Latifundist.com by several sources close to the negotiation process.

"IMC is always on sale, the question is only in value. Many top-holdings looked closely at the company, negotiated, but did not agree on the price. The last interested buyer was Alexander Gerega. In autumn, purchase of part of the assets was negotiated, and later of the whole company. Judging by the latest information, the parties have not agreed yet," the source said.

According to him, IMC shareholders estimate the company at a minimum of USD 200 million. At the same time, potential buyers consider the price too high.

Commenting on the company's previously announced plans for the expansion of the land bank, the source called it "beating about the bush" for the journalists since, according to him, the holding has no money to buy land.

According to another source, the chaffer between Alexander Gerega and the owners of IMC continues. He stressed that in order to bring the company to the state of pre-sale readiness, shareholders in the past six months were actively paying the debts to banks and suppliers. In addition, in the last few years the holding was getting rid of unprofitable businesses, in particular livestock.

"Now is the best time to sell. That is why there is such activity in the search for buyers," the source added.

To the request of Latifundist.com concerning the information on intentions to sell the company's assets, the press service noted that "IMC is a public company and we officially announce all important events in the company's life on the company's website and through the information system of the Warsaw Stock Exchange."

"Providing comments on rumors, information sources, etc. does not correspond to our information policy," the company noted.