Ovostar sells 62% of Lagoda confectionary

Ovostar Union (WSE: 8375210Z PW), one of the leading egg producers in Ukraine, sold a 61.96% stake in Lagoda confectionary (Kyiv region). The deal was closed in January 2011; its value was not disclosed. As of February 2011, a 61.9% stake in Lagoda belonged to Komrpomis-Invest Ltd., asubsidiary of Ovostar. According to the company’s announcement, a 100% stake in Komrpomis-Invest Ltd. was also sold. Lagoda is among the top four confectionery producers in Ukraine controlling 6.5% of Ukrainian waffles and biscuits market. In mid-June 2011 Ovostar Union N.V. (Netherlands) raised USD 33.2mln through a placement of 25% of its shares on the Warsaw Stock Exchange.