MHP acquisitions increase land bank by 12,000 ha

MHP (LSE: MHPC LI) announced yesterday in a press release that it purchased 100% of LLC Start, LLC Balance and LLC Ukraine, whose operations focused on grain cultivation in Khmelnitsky region in Central Ukraine. MHP said the acquisitions added 12,000 ha to its land bank, which will be incorporated into one of its grain growing enterprises, CJSC Zernoproduct MHP. The transaction is in line with the company’s plans to increase its land bank to 400,000 ha in 2-3 years, from about 240,000 ha now.