Kernel extends offer to Allseeds minorities

Kernel Group (WSE: KER PW) said on Friday that it extended the deadline for minority shareholders of Allseeds Group to consider their offer to buy out their 37.6% stake by “a few days”, local media reported. On January 19, Kernel offered to purchase the stakes for USD 28 mln. Kernel, in mid-January, signed a call option agreement to acquire a controlling stake in Allseeds for USD 42 mln in cash. 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.