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AgroGeneration acquires 70% of Ukraine’s Vinal

AgroGeneration acquires 70% of Ukraine’s Vinal

22 June 2010

AgroGeneration (NYX: ALAGR FP) acquired a 70% interest in Ukrainian agricultural company Vinal, which controls 25 ths ha in Western Ukraine, according to Interfax. AgroGeneration is to pay for the 70% stake in cash and it retains an option to purchase the remaining 30% in 2012.  Vinal produced 83 ths mt of grain in 2009 worth EUR 9.7 mln. The acquisition doubled AgroGeneration’s land bank over 45 ths ha. AgroGeneration president Charles Vilgrain, in a release, said the move was in line with the company’s goal of increasing its land bank to 100 ths ha by end-2012.

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