October 7, 2013

Kernel completes sale of farming operations in southern Ukraine

Press release

Following the previously announced strategy to divest remotely located farmland, Kernel Holding S.A. has completed, via its subsidiary, the sale of the farming operations located in southern Ukraine for a total consideration of US$7.0 million.

Following the deal, the company's farming operations in Ukraine amount to 405,000 hectares of leasehold land.

Kernel employs 16 000 people, primarily in farming, in the production, refining and bottling of oil, in grain origination and logistics, and in the grain silos and port trans-shipment facilities owned and operated by the company.