Business news from Ukraine

UKRAINIAN MHP APPOINTS PHILIP WILKINSON NEW DIRECTOR

The shareholders of Myronivsky Hliboproduct agricultural holding (MHP) have approved the appointment of Philip Wilkinson as an additional director of the company. According to the MHP report on the London Stock Exchange’s website, the appointment was the only issue on the agenda of the company’s extraordinary meeting on March 24, 2020.
MHP is the largest producer of poultry in Ukraine. It is also engaged in production of cereals, sunflower oil, meat. MHP supplies chilled poultry carcasses to the European market, which are processed, in particular, at its enterprises in the Netherlands and Slovakia.
In February 2019, MHP completed the acquisition of the Slovenian company Perutnina Ptuj.
The founder and majority shareholder of MHP is Ukrainian businessman Yuriy Kosiuk.
In 2018, MHP’s net profit decreased by 44.3%, to $128 million, revenue increased by 21%, to $1.556 billion.

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UKRAINE RENAMES MINISTRY OF CULTURE, YOUTH AND SPORTS INTO MINISTRY OF CULTURE AND INFORMATION POLICY

The Cabinet of Ministers of Ukraine has renamed the Ministry of Culture, Youth and Sports into the Ministry of Culture and Information Policy. Also, by resolution No. 231 of March 23, the government amended acts that related to the activities of the Ministry of Culture, Youth and Sports, replacing the name of the department with the Ministry of Culture and Information Policy.
In addition, the Cabinet of Ministers abolished all the functions of this ministry, which related to youth and sports.
As reported, on March 4, the Verkhovna Rada supported the appointment of Vadym Gutzeit as Minister of Youth and Sports of Ukraine.

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FRENCH SAS COULD ACQUIRE THREE UKRAINIAN AGRICULTURAL COMPANIES

The little-known French company SAS Investcompagnie (Paris) plans to acquire Agrikor Holding LLC (Chernihiv region), Agroprime Holding LLC (Izmail) and Agrovit LLC (Cherkasy region), which were part of the agrarian holding Agrain, which curtailed activities in Ukraine in 2016.
According to the published agenda of the meeting of the Antimonopoly Committee of Ukraine, the committee can grant SAS Investcompagnie permission to acquire shares in the charter capital of three agricultural enterprises, which will ensure exceeding 50% of the votes in the management bodies of the companies.
According to the French register, SAS Investcompagnie was created in April 2018 with a registered capital of EUR 250,000 0. Its president is Anna Rubtsova.
According to the unified public register of legal entities and private entrepreneurs, the ultimate beneficiary of Agrikor Holding is Vitaliy Kuznetsov, Agroprime Holding is Oleksandr Riasnenko, and Agrovit is Hanna Harifulina.
Agroholding Agrain, before ceasing operations in 2016, was one of the largest in Ukraine, its land bank amounted to about 130,000 hectares. The company had silo storage capacities in the amount of 330,000 tonnes of crops, and was also engaged in dairy and beef cattle breeding.
In 2014, Agrain agricultural holding announced an attempt to seize the company’s head office by unknown persons, after which a number of court proceedings were opened against the top management, and arrests were imposed on the property of the agricultural holding.

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UKRAINE AND ROMANIA AGREE ON FREE TRANSIT OF GOODS

Ukrainian Foreign Minister Dmytro Kuleba during a telephone conversation with Romanian Foreign Minister Bogdan Aurescu have agreed on the protection of Ukrainian citizens in Romania during traffic restrictions and uninterrupted transit of Ukrainian goods through Romanian territory, the Ukrainian Foreign Ministry has said. “I appeal to you in every possible way to support the citizens of Ukraine who are in Romania at a time when the transport links were practically closed, and I confirm that you can count on our appropriate attitude towards the citizens of Romania in Ukraine during this difficult period,” the press service said on Wednesday, quoting Kuleba.
Aurescu confirmed that Romania has always supported the sovereignty and territorial integrity of Ukraine, as well as Ukraine’s integration into the EU and NATO. He also assured Ukraine of Romania’s support in international institutions and organizations, of which Romania is a member.
In addition, Kuleba drew the attention of the Romanian foreign minister to the inadmissibility of Russia’s attempts to ease sanctions against the backdrop of the COVID-19 coronavirus disease pandemic.
“I would also like to draw your attention to the calls of Russia to ease sanctions under the pretext of a COVID-19 pandemic and the accompanying economic instability in the world. These calls are inappropriate and unacceptable. It is very important that no one can use the current difficult situation to achieve political goals. The sanctions were introduced over the Russian aggression against Ukraine, and the COVID-19 pandemic has nothing to do with them,” the Ukrainian minister said.
According to the Foreign Ministry, Aurescu assured Kuleba that he agrees with this approach to the issue of keeping sanctions against the Russian Federation. He also invited the Foreign Minister of Ukraine to pay a visit to Romania.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 26/03/20

National bank of Ukraine’s official rates as of 26/03/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF MARCH 26

Official rates of banking metals from national bank as of March 26

One troy ounce=31.10 grams

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