Cascade Investment Fund Chairman gave insight into agricultural assets sale
The sale of CascadeAgro's 13 agricultural holding companies is contingent on a better offer made to Cascade Investment Fund, its parent company, the Fund's Chairman Anatoly Shakhnovsky told Latifundist.com in an interview.
"We continue negotiations with several potential buyers, including Agartha Fund, Kernel and others, for the acquisition of CascadeAgro's 13 companies. Ultimately, the deal will depend on whose offer will be more appealing," says Anatoly Shakhnovsky.
According to him, a decision to sell 13 companies is a part of Cascade Investment Fund's development strategy since other priority areas for investment were selected.
CaskadeAgro manages 43,000 ha of farmland, two grain elevators with a total storage capacity of 105,000 t and two farms. It is fully equipped with machinery and has sufficient working capital, he notes.
"The company was developing for more than 15 years. During this period of time, assets were acquired from different owners at that time, including Kernel," Anatoly Shakhnovsky adds.
Previously reported that the AMCU authorized the purchase of 13 agricultural enterprises by Kernel Holding S.A. from Vitaliy Khomutynnik's CascadeAgro.