KYIV. July 22 (Interfax-Ukraine) – KSG Agro and Ukrsotsbank (Kyiv, the UniCredit Bank trademark) as a part of a memorandum on the restructuring of credits, have finished the first stage of the credit restructuring program.
“The debt of agricultural enterprise Chumaky LLC (earlier Dnirpoagrostandard LLC) to Ukrsotsbank was paid by Dnirpoagro Group via the sale and purchase of corporate rights in Chumaky LLC. In addition, during the first stage of restructuring, Dnirpoagro paid a credit debt to Vidrodzhennia LLC,” KSG Agro said on Tuesday.
The company said that KSG Agro in June 2015 transferred operation management and control over Chumaky LLC to Dnirpoagro Group during the preparation of the corporate rights sale and purchase deal.
As reported, referring to KSG Agro Board Chairman Serhiy Kasyanov, KSG Agro agroholding has signed a memorandum on the restructuring of credits of around $7 million with Ukrsotsbank.
He also said that the debt burden of the company has been estimated at around $30 million. The debt of the company is mainly in hryvnias.