UkrRos acquires 57.8% stake in Hulaipole Grain Elevator
3 June 2008
UkrRos (UROS: BUY) announced yesterday that it acquired a 57.8% stake in Hulaipole Grain Elevator (Zaporizhya region) with a storage capacity of 51 ths ha of grain and sunflower seeds. The volume of the deal was not disclosed. Anna Dudchenko: This acquisition fits the company’s strategy of doubling its land bank to 140 ths ha by 2010, which should be reflected in increased output of agricultural crops and a greater need for additional storage capacities. We estimate the share of Ukrros’ non-sugar revenue, mainly coming from crops will increase from 16% in 2007 to 29% in 2011.
