Cargill investment project for $ 100 million is blocked

Cargill investment project for $ 100 million is blocked

11.02.2016 News

Cargill investment project for $ 100 million is blockedThe investment project of the company with US capital Cargill of about $ 90-100 million is blocked. Alexander Kramarenko, the chief editor of the “Money” magazine, told about this in his blog “By what Ukraine scares foreign investors”.

“Delta Bank and Cargill”. Cargill is an agricultural business with a century and a half of history, the global turnover of more than $ 130 billion, operating under American corporate law. In Ukraine it invests in the processing and cultivation of agricultural products, elevators, etc. “Delta Bank” is at one time the fourth in size private bank in Ukraine, which in the autumn of 2015 was sent to eliminate. And, it happened so that Cargill was not only a client of “Delta”, but also its shareholder – 29.39% of the share capital of the bank”, – he explains.

According to him, the company has agreed to a number of “Delta” borrowers on the opposite repayment of obligations – borrowers pay the company, and the company takes off claims against the bank. All this happened before the introduction of an interim administration and within the then acting legislation.

“Now this package of deals worth about $ 100 million trying to challenge. Or rather – trying to force “turn back”: to borrowers, who transferred their debts, should be owed to the bank again, and Cargill remains innocent, but with losses”, – he explains.

According to experts, the main loss can be considered a failure of the construction of a grain terminal in Illichevsk seaport (Odessa region) – the company “Illichevsk grain port” was one of the “Delta” borrowers. Although the media have repeatedly sounded the idea that Odessa grain terminal project  is a kind of compensation for losses in the Crimea and Donbas, it is not true.

According to him, the consequences are the blocked investment project of the company with US capital Cargill of about 90-100 million dollars, potential foreign investors were sent the signal that the investment climate in Ukraine is unhealthy as the state is unable to protect the interests of investors.

Source: latifundist.com

Other articles

Read also

Cargill investment project for $ 100 million is blocked
News

MEET NEW NUTTY ENJOYMENT FROM AXA

Good news from products company Lantmannen AXA was not long in coming! Company asked consumers: “What ingredients do you add most often to granola?” One of the most popular answers is nuts. We launched Super nuts Granola! The design has acquired the corporate style of the AXA Granola line. In combination with oatmeal, crispy honey […]

Next
Cargill investment project for $ 100 million is blocked
News

Ukraine places dollar Eurobonds

Ukraine is preparing to place eight-year dollar Eurobonds, Interfax-Ukraine reports, citing a source in banking circles. According to the publication, the Ministry of Finance has already opened a book of applications. The benchmark profitability of the issue is 7-7.25%. The organizers of the placement are BNP Paribas, Deutsche Bank, Goldman Sachs International, JP Morgan.

Next
Cargill investment project for $ 100 million is blocked
News

Group DF registered brand “Ukraine tomorrow” in 27 EU countries

Group DF officially registered in 27 countries of the EU trademark “Ukraine Tomorrow”.  Group DF, that is controlled  by businessman Dmitry Firtash,  announced the end  of the official registration in the Office for Harmonization in the Internal Market (OHIM) of trademarks for goods and services “Ukraine Tomorrow” (TM), “Ukraine Morgen” and “Ukraine Tomorrow”, around which […]

Next
Cargill investment project for $ 100 million is blocked
News

Aston Martin has introduced a new supercar

Automotive sports car maker Aston Martin has introduced a new Aston Martin supercar Valkyrie Spider. “Aston Martin Valkyrie is a product of incredible innovation and technology, but above all, it’s about emotions. At Valkyrie Spider, we take that passion and emotion to the next level. The driving experience promises to be truly sensational,” said CEO […]

Next
Cargill investment project for $ 100 million is blocked
News

The USA court has forbidden the UMH to use the brand “Forbes”

International Court of Arbitration in New York in a dispute between the  UMH – the Ukrainian publisher of “Forbes Ukraine” magazine,  and the Forbes Media, LLC American publishing house ruled in favor of the latter on April, 20, and revoked the license of Forbes Ukraine, said in Forbes Media, LLC  to the publication LІGA.net UMH […]

Next
Cargill investment project for $ 100 million is blocked
News

Today passes “The Tiger Conference” in “Hilton” hotel

Today, December 2, 2015, in the capital «Hilton» hotel passes the fourth international “The Tiger Conference”, which is devoted to energy issues, the new economy, leadership, and the rule of law. The conference was attended by over 300 of heads of domestic and foreign companies as well as government leaders and public figures. Representatives of […]

Next
Cargill investment project for $ 100 million is blocked
News

The court seized the property and stocks of Motor Sich

The Shevchenkivskyi District Court of Kyiv has seized the property and 100% of the shares of Motor Sich. This was announced on Saturday, March 20, the press service of the SBU. The property of the enterprise has been transferred to the management of the National Agency for Detection, Investigation and Management of Assets Obtained from […]

Next
Cargill investment project for $ 100 million is blocked
News

The NBU named the reasons for the fall in GDP in the second quarter

Before the fall of the economy in the second quarter of 11.4% led to strict quarantine restrictions and declining demand, as well as reduced investment. This is stated in the report of the National Bank. “The main factor in the deepening decline in GDP was expected to be a reduction in domestic demand. It is […]

Next
Cargill investment project for $ 100 million is blocked
News

The court found guilty the NBU in bankruptcy of the Ukrgazprombank

The Kyiv Administrative Court of Appeal  found guilty the National Bank of Ukraine (NBU) in bankruptcy of the Ukrgazprombank. This is stated in the judgment from  April 26 in the case N826 / 26255/15, writes UBR. The NBU actions were called “illegally inactive” by the decision. Thus, was confirmed the decision of the previous court – the District […]

Next
Cargill investment project for $ 100 million is blocked
News

The AMCU has fined the Dnepropetrivsk pharmacy for consumer fraud in 68 000 UAH

According to informed sources, the Antimonopoly Committee has fined the  Dnepropetrivsk pharmacy for consumer fraud. The fine for the violation of unfair anti-competition law amounted to 68 thousand UAH. The Dnipropetrivsk regional territorial office of the AMCU asked the “Pharmacy №338”, LLC (Dnepropetrivsk) to pay the fine as soon as possible. This was said on […]

Next
Cargill investment project for $ 100 million is blocked
News

The largest coffee manufacturer Strauss Group has opened a distribution center in Kyiv

The international company Strauss Group is one of the largest coffee manufacturers in the world. They put into operation a warehouse and distribution center on the street in the third quarter of 2020. It’s located on Novopyrohivska str, 56a in the Holosiivskyi district of Kyiv. “An innovative distribution center opened in Ukraine in the third […]

Next
Cargill investment project for $ 100 million is blocked
News

Grey Group acquires Easycom Group in China

Grey Group, one of the largest global communications networks has acquired a majority stake in Easycom, a social media agency in China. This acquisition will accelerate Grey’s growth in one of the world’s most dynamic emerging economies and offer clients access to a new vary of marketing services.  Founded in Shanghai in 2006, Easycom has a […]

Next
Cargill investment project for $ 100 million is blocked
News

Gucci to donate half a million dollars to UNICEF for vaccination against COVID-19

The most popular fashion brand Gucci will donate about $ 500,000 for the purchase and distribution of a new type of coronavirus vaccine among vulnerable people around the world. It is noted that the funds will be transferred to UNICEF, which supports the WHO initiative on mass vaccination COVAX and the GAVI group. “Global equitable […]

Next
Cargill investment project for $ 100 million is blocked
News

Big business has increased budget allocations

Ukrainian large taxpayers transferred UAH 362.3 billion in tax payments to the state budget in January-November 2020. According to the press service of the Office of Large Taxpayers of the State Tax Service, this is 11% more than in the same period last year. The share of tax payments from large businesses served by the […]

Next
Cargill investment project for $ 100 million is blocked
News

Ukraine received $ 2.7 billion from the IMF

As part of a new distribution by the International Monetary Fund (IMF) of special drawing rights (SDR), Ukraine on Monday, August 23, received its share of SDR 1.9 billion, or $ 2.7 billion, said First Deputy Governor Kateryna Rozhkova Facebook page. “Today 1.9 billion SDRs came to Ukraine’s account at the IMF! A wonderful gift […]

Next
Cargill investment project for $ 100 million is blocked
News

Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com