The Antimonopoly Committee of Ukraine (AMCU) has granted approval to Olimp LLC to acquire control over the assets of ADM Ukraine LLC in the form of a single property complex (grain elevator), the agency announced on Facebook.
According to the regulator, the facility in question provides grain storage services.
According to market participants, the subject of the deal is the “Kam’yansky” grain elevator in the Cherkasy region. The facility has a storage capacity of 64,000 tons in metal silos and floor storage facilities.
Once the deal is finalized, ADM Ukraine will effectively have no remaining grain storage assets in Ukraine. The company previously lost control of the “Tavriysky” elevator due to Russia’s military aggression.
Archer Daniels Midland (ADM) is an American agribusiness corporation headquartered in Chicago, operating in 200 countries. The company specializes in the production of food ingredients, animal feed, and biofuels, as well as in the processing, storage, and logistics of agricultural products. Its product portfolio includes grains, oilseeds, flour, starches, vegetable fats, and logistics services through its ADM Logistics division. In Ukraine, the corporation is represented by ADM Ukraine LLC.
OLIMP LLC is a Ukrainian agribusiness company with a land bank of 36,000 hectares in the Zhytomyr, Kirovohrad, and Cherkasy regions. It specializes in crop production (corn, wheat, soybeans, sunflowers), livestock farming, processing, and trading. Its asset portfolio includes six processing facilities (mills, bakeries, canning plants), the “Olimp” and “Olimp-Agro” grain elevators, as well as the Kamyansky Machine-Building Plant. According to data from the YouControl analytical system, the company’s beneficial owners are Volodymyr Hetsko and Yuriy Moskalyk.
Astarta agricultural holding in July 2019 started accepting grain at Semenivsky elevator (Poltava region) with a capacity of 120,000 tonnes and investments of $19.2 million, the press service of the holding has said. According to the report, this elevator is the largest one in Astarta’s structure. It is designed to accept grain from the agricultural holding’s farms and from partners.
The construction of the elevator lasted nine months, it can ship over 54 wagons of grain per day. According to the company, Astarta has seven grain elevators in Poltava, Vinnytsia and Khmelnytsky regions with a total capacity of 550,000 tonnes of grain. As reported, in March 2019 Astarta bought an elevator in Khmelnytsky region for EUR4.6 million.
Astarta after three years of profitable work in 2018 received a net loss of EUR21.11 million. Its revenue decreased by 18.8%, to EUR372.22 million, EBITDA by 2.1 times, to EUR56.87 million.
