Continental Farmers finalized the purchase of Mriya Agroholding
Continental Farmers will announce the acquisition of Mriya Agroholding's assets.
According to Latifundist.com resources, the parties finalized the negotiations and soon will go public with the decision.
Mriya is planned to become the managing company, and the Ukrainian enterprises Agro LV Limited, Agromark UK, Agrolandinvest UK, Grain Land which are currently structural divisions of Continental Farmers, will be included in the new holding.
Subsidiaries of Continental Farmers manage 45 thou. hectares of farmland, and Mriya — 165 thou. hectares. Thus, a newly formed holding will have a 210 thou. hectares landbank.
Previously it was reported that Mriya had completed the restructuring process.
The Agroholding also stressed that execution of any sale transaction was subject to the consent of Mriya Farming's stakeholders pursuant to the terms and conditions of the New Notes and interest holders' agreement of Mriya Farming Plc adopted in accordance with the terms of the restructuring.
Continental Farmers Group is a subsidiary of United Farmers Holding Company (UFHC). Last year, UFHC informed that it intended to expand its investment in agriculture. Specifically, the expansion of the landbank in Ukraine from the current 42 thou. hectares to 100 thou. hectares within the period of three years was adopted. The target products of this investment are wheat, barley, corn and oilseeds.
In turn, UFHC was established by Saudi Agricultural and Livestock Investment Co. (SALIC), Saudi Grains and Fodder Holding (SGAF) and Almarai Company, the shareholders of which are either the Saudi government or members of the royal family of the country.