Industrial Milk Company completes acquisition of 5 ths ha farm
12 April 2012
Industrial Milk Company (IMC PW) completed the acquisition of a farming enterprise in Poltava region with a landbank of 4.6 ths ha and 12 kt in grain storage capacity, the company reported yesterday. The acquisition was announced in the second half of March for an undisclosed sum. With the acquisition, Industrial Milk Company increased its total landbank by 8% to 64.2 ths ha and grain storage capacity by 6% to 223 kt.
Yegor Samusenko: According to the yesterday’s filing, the value of the deal was USD 3.0 mln, implying USD 660/ha including storage or USD 525/ha if excluding storage (assuming USD 50/t of capacity), figures we believe are reasonable for this region.
