Business news from Ukraine

CANADIAN COMPANY INTENDS TO ACQUIRE SHARES IN UKRAINIAN INSURER

Canada’s FFHL Group has announced its intent to acquire 29.08% of shares in PrJSC Universalna Insurance Company (Kyiv).
According to the National Commission for Securities and the Stock Market, earlier FFHL Group and affiliated persons did not hold shares of Universalna.
Earlier, the Antimonopoly Committee of Ukraine permitted Fairfax Financial Holdings Limited to purchase (through a subsidiary of FFHL Group Ltd.) shares of PrJSC Universalna Insurance Company, which will grant over 25% of the votes in the governing body of the insurance company.
The Antimonopoly Committee of Ukraine also allowed Fairfax Financial Holdings Limited to acquire shares of Universalna insurer through the newly created FFH Ukraine Holdings LLC, which will grant over 50% of the votes in the governing body of the insurer.
Universalna was founded in 1991, It provides services in the field of risk insurance. It offers services for 42 types of insurance. The company’s regional network has more than 300 points of sale throughout Ukraine.

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KERNEL COULD CONSIDER SALE OF SHARES IN GRAIN TERMINAL IN RUSSIA’S TAMAN PORT

Kernel, one of the largest Ukrainian agricultural groups, could consider a possibility of selling shares in a deep-water grain terminal at the Taman port (Russia) if the price offered for them were acceptable, the agricultural holding has said on the Warsaw Stock Exchange (WSE).
Several potential buyers are interested, and if the holding receives the satisfactory price, it will seriously consider the issue of leaving the Russian market, Kernel President Andriy Verevsky said.
As reported, in 2012, Kernel and Glencore acquired a 100% stake in the deep-water grain terminal in the port of Taman from the EFKO group. The transaction value was $265 million. Kernel received a 50% stake in this terminal. In 2018, Kernel transferred its quota for transshipment of 1.8 million tonnes of grain to a third party and received $7.8 million for this.
Kernel is the world’s largest producer and exporter of sunflower oil, a leading manufacturer and supplier of agricultural products from the Black Sea region to the world markets.

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BALTIC BEVERAGES INVEST WILL BUY 12.6 MLN SHARES OF CARLSBERG UKRAINE

Baltic Beverages Invest AB (BBI, Sweden) will buy 12.583 million shares of PrJSC Carlsberg Ukraine (Zaporizhia), one of the largest brewing companies of Ukraine, within the framework of squeeze-out for UAH 14.7 per share.
According to the report in the information disclosure system of the National Securities and Stock Market Commission, this price is defined as the market value of shares as of March 25, 2019. Thus, the total amount of the repurchase of 12.6 million shares of Carlsberg (1.2% of the total number of shares) will be about UAH 185 million.
As reported, Baltic Beverages Invest AB at the end of March 2019 announced its intention to exercise the right to compulsory redemption of shares from the minority shareholders of PrJSC Carlsberg Ukraine.
Carlsberg Ukraine in 2018 increased its net profit by 1.5 times compared with 2017, to UAH 1.634 billion.
Carlsberg Ukraine is part of Carlsberg Group, one of the leading brewing groups in the world, whose products are sold in more than 150 countries.
Carlsberg Group in Ukraine includes three breweries in Zaporizhia, Kyiv, and Lviv.

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MHP ACQUIRES 90% OF SHARES IN PERUTNINA PTUJ FOR EUR 221 MLN

Myronivsky Hliboproduct (MHP) has announced that it has reached a final settlement price of EUR 221.095 million with Slovenian Steel Group (SIJ) to acquire Perutnina Ptuj, a leading poultry meat and a meat-processing company headquartered in Slovenia.
According to a company report, the price per share is EUR 22.34. SIJ held 9.897 million shares in the Slovenian company. The acquisition was completed in February 2019 subject with final purchase price defined based on audited financial statements of 2018. MHP has now completed this process and has today confirmed a 90.69% stake in Perutnina Ptuj.
“The company is undertaking a full assessment of Perutnina Ptuj’s production facilities and will reveal a full modernisation plan later this year during roadshow/meeting with stakeholders both in Slovenia and London together with top management of both companies,” MHP said.
MHP is the largest poultry producer in Ukraine. It also deals with production of grain, sunflower oil, meat goods.

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SHARES OF UKRAINIAN COMPANIES ON INTL STOCK EXCHANGES REACT CALMLY ON PRESIDENTIAL ELECTION

The most liquid shares of Ukrainian companies listed on the Warsaw Stock Exchange (WSE) and the London Stock Exchange (LSE) calmly reacted on the outcome of the first round of the presidential election in Ukraine.
According to the WSE, as of 10:00 am on April 1, the share price of the Ovostar agricultural holding slightly decreased – by 0.93%, to PLN 107 per share. The share price of Agroton agroholding increased 3.66%, to PLN 3.54 per share, Astarta – by 1.84%, to PLN 27.7 per share. Besides, the stock price of IMC increased by 0.72%, to PLN 13.95 per share and Kernel – by 0.2%, to PLN 49.3 per share.
On the LSE, the JKX Oil & Gas oil and gas company shares fell by 2.27%, to GBP 0.5375 per share. Shares of British Ferrexpo Plc, which controls Poltava and Yeristovo mining and processing plants in Ukraine, rose by 3.03%, to GBP 0.255 per share.
The stock price of the agricultural holding MHP increased 0.98%, to $10.35 per share. Share price of the British oil and gas company Regal Petroleum Plc with assets in Ukraine has not changed being GBP 0.435 per share.

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BALTIC BEVERAGES INVEST ANNOUNCES SQUEEZE-OUT OF SHARES FROM MINORITY SHAREHOLDERS IN CARLSBERG UKRAINE

Baltic Beverages Invest Aktiebolag (Sweden) has announced plans to use the right to squeeze out shares from minority shareholders in one of the largest breweries in Ukraine – private joint-stock company Carlsberg Ukraine (Zaporizhia).
According to the report on March 26, 2019, Baltic Beverages Invest is the direct holder of the dominating stake in Carlsberg Ukraine in the amount of 1.01 billion with the face value of UAH 1 each, which is 98.77% of the total number of shares in the company.
Carlsberg Ukraine is to approve the market value of shares no later than 25 working days from the moment of receiving the announcement and inform Baltic Beverages Invest about it.
Carlsberg Ukraine is part of Carlsberg Group/
The group in Ukraine has three breweries in Zaporizhia, Kyiv and Lviv.

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