LNZ Group acquired assets of Shpola-Agro Industry

LNZ Group acquired 100 percent of the agricultural assets of Shpola-Agro Industry in Ukraine.

Together with the acquisition of ownership of the corporate rights of Shpola-Agro Industry, the rights for agricultural enterprises affiliated to the company were also acquired.

Negotiations on the purchase of corporate rights continued since November 2017.

Acquisition of agricultural assets increased LNZ Group's land bank to 70 thou. hectares.

"Among the company's further plans are the modernization of the acquired industrial capacities and increase of production volumes. We are not going to reduce the number of jobs and dismiss employees, and all employees are encouraged to continue fulfilling their functional duties," Dmitriy Kravchenko, Chairman of the Supervisory Board of LNZ Group, comments.