Epicenter K will buy out leased farmland once market opens — Gerega

Epicenter K Group plans to buy out farmland leased by the company and is already negotiating it with banks, owner of the company Alexander Gerega stated in the interview with LB.ua.

"We are now negotiating with reputable banking institutions capable of accumulating large funds. Because if the market is open, then we need to buy land," says Alexander Gerega.

He explained that the company's construction of its own grain elevators is one of the steps that will make it easier to obtain loans or issue Eurobonds to raise funds.

"Why did we build a large elevator business? It's fixed assets. Tomorrow, if we want to either get a big loan or go to issue Eurobonds — what will be our collateral? What do we say? We have contracts. Sorry, it's not your land. That's why we've secured fixed assets that can be collateral. This is the beginning of big business," stresses the owner of the company.

Learn more: Ukraine's Land Market Bill Adopted: Key Provisions

As a reminder, the leaders of the TOP 10 largest companies in terms of grain storage capacity remained unchanged in 2019. Epicenter K subsidiary, Epicenter Agro, ranked 9th.