The major shareholder and the head of the board of directors of KSG Agro agricultural holding, Serhiy Kasyanov, who owns it through Olbis Investments Ltd. (Panama), on August 2 sold one million shares (6.66%) of the group of companies to two legal entities with Polish jurisdiction, after the transaction the share of Olbis Investments Ltd. amounted to 57.96% of the charter capital.
The press service of the agricultural holding told Interfax-Ukraine about this transaction on August 4.
“The buyers were Polish companies together with beneficiaries in the European Union. Within a few days we will agree on all the formalities and will be ready to jointly inform the market about our future plans,” the press service quoted Kasyanov as commenting on the deal.
He explained that prior to the conclusion of the agreement, Olbis Investments Ltd. owned 9.7 million shares of KSG Agro S.A (Switzerland), the parent company of the Ukrainian agricultural holding, which accounted for 64.62% of its charter capital. Following the transaction, the Panamanian company owns 8.7 million shares of KSG Agro S.A (57.96%).
The press service of the agricultural holding emphasized that through this transaction, KSG Agro intends to attract investors to the development of meat processing facilities and to enter the markets for finished livestock products.
“The selling price of the shares has not been disclosed, but it is not lower than the market price and corresponds to the weighted average price of the holding’s shares on the Warsaw Stock Exchange (WSE) over the past few months. The buyers of the shares were two companies with Polish jurisdiction, whose names have not yet been disclosed,” the press service said.
Thus, according to the three-month dynamics of the value of shares of the agricultural holding presented on the WSE website, the investments attracted by it can roughly range from PLN 3.21 million ($ 834,000 at the current exchange rate) to PLN 4.49 million ($ 1.17 million).
Corum Group has signed contracts for supply five tunneling machines for Polska Grupa Górnicza (PGG) and Jastrzębska Spółka Węglową (JSW, both based in Poland) for the total amount of PLN 22.8 million (EUR 5.3 million), which the companies will lease for three years.
The press service of Corum told Interfax-Ukraine that the first tunneling machine, intended for JSW, in August will begin operations at the Szczyglowice mine.
A number of modifications have been made to the design of the mass model of the tunneling machines in accordance with the requirements of the customer for maximum adaptation to the conditions of the customer mine. It is equipped with a 150 kW engine and a sector irrigation system for suppressing dust in the face and preventing sparks from working in the face.
“Our tunneling machines have proven themselves at the coal mining enterprises of Poland, working here since 2013. We put the first tunneling machine on the Polish market for JSW, and it has been successfully operated to this day,” the press service of the Corum Group reported, citing CEO Mykhailo Potapov.
The tunneling machine for JSW is supplied with additional equipment, which includes belt conveyor, power train, pumping unit, data transmission system, visualization and monitoring system. Terms of the contract also include comprehensive maintenance of machinery.
Corum intends to deliver another four tunneling machines to the company Polska Grupa Górnicza. One of them for the RUDA mine is scheduled for shipment by the end of September this year, the next three for the Bolesław Śmiały mine between June and September 2019.
Corum Group unites the machine-building assets of the SCM financial and industrial group. In 2017, the company’s share of exports increased to 41%. The key countries of presence are Russia, Kazakhstan, Poland, Vietnam and Estonia.