AMCU authorized the Japanese Sumitomo for the acquisition of PPPs and equipment distributor

The Antimonopoly Committee of Ukraine (AMCU) authorized Sumitomo Corporation (Tokyo, Japan) for the purchase of shares of Oscar Agro Limited (London, the United Kingdom).

The purchase provides an excess of 50% of the votes in the supreme management body of the company.

According to Biz.nv.ua, Oscar Agro is a company in the UK that was created specifically for this project. Oscar Agro owns a 100% stake in Spectr-Agro and Spectr-Agrotechnics, and Sumitomo Corp. will acquire a 51% stake in Oscar Agro.

On July 11, Sumitomo, Spectr-Agro and Spectr-Agrotechnics (Spectr-Agro) signed an agreement according to which Sumitomo will acquire 51% of Spectr-Agro shares.

Note: Sumitomo is one of the largest Japanese corporations. The agri-scientific business line (ASBL) was launched in the company, which members are the leading exporters of PPPs today. Having started with the export of PPPs from Japan, Sumitomo is actively engaged in expanding the supply chain, developing wholesale and retail distribution channels. To date, this activity is carried out in 30 countries around the world. In 2011, the corporation acquired the company Alcedo S.R.L, the largest retailer of agricultural products in Romania, and in 2015 — Agro Amazonia, which is one of the largest farmer retail trade channels in the state of Mato Gross in Brazil.