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Milkiland increases milking cows headcount by 30% via acquisition

Milkiland increases milking cows headcount by 30% via acquisition

18 October 2011

Milkiland (WSE: MLK PW, BUY) increased its milking cows headcount by 30% to about 2,600 heads and total land bank by 15% to 18,100 ha via the acquisition of a 99.9% interest in ALLC Batkivschyna in Chernihiv region, the company reported yesterday in a press release. The Antimonopoly Committee of Ukraine approved the transaction on October 14. Batkivschyna is an agricultural company with 2,400 ha of arable land and 680 milking cows.Yegor Samusenko:Evenafter the acquisition Milkiland’s raw milk self-sufficiency is less than 10%, reflecting sector-wide separation of raw milk producing and processing chains. We do not expect the material impact of the deal to be significant and thus foresee no effect on the stock.

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