1 July 2010
MHP (LSE: MHPC LI) announced this morning that it acquired SE Interagrotrade and SE Interagro, grain cultivators in Sumy region, that control a combined 9 ths ha of land. Ruslan Patlavskyy: The acquisition of the grain growing facilities is in line with the management’s strategy to expand its land bank by 75% to 350 ths ha within the next few years, and is supported by the recent USD 61.3 mln loan facility from IFC. The addition of another 9 ths ha of land increases the company’s total land holdings by 4.5% to 209 ths ha and suggests 16% YTD growth in its total land controlled.