Kernel gets approval to acquire Allseeds

The Antimonopoly Committee of Ukraine agreed to allow Kernel Group (WSE: KER PW) to acquire Allseeds, according to reports on Friday. Kernel announced in mid-February that it signed call option agreements to acquire a controlling stake on February 13 and the 37.6% minority shareholder interest in Allseeds on February 12. Kernel said the agreements value Allseeds at about USD 230 mln. Allseeds is Ukraine’s third largest producer of crude sunflower oil. Allseeds Group owns two refineries in Ukraine, with a total output of 565 ths mt per year. It also controls a transshipment and export terminal with a capacity of over 1 mln mt in Mykolaiv and 16 storage facilities with a capacity of 600 ths mt.