Fairfax holding company acquired a part of Astarta shares

Fairfax holding company acquired a part of Astarta shares

10.01.2017 News

International financial company Fairfax Financial Holdings Limited (Toronto headquarters, Canada) purchased 9.99% of shares of agricultural Ukrainian holding Astarta, which is the flagship of the domestic sugar market, which also is one of the largest provider of milk in the country. In addition,a new owner of shares acquired the right to purchase the remaining interest of one of the co-founders within two tranches.

Such Information is known from a statement posted on the website of the Warsaw Stock Exchange (WSE). Since the end of the summer of 2006 shares of the company Astarta have been listed on it.

Fairfax has purchased 2 million 497.5 thousand shares of Astarta by PLN 60 per share (PLN = 6.5UAH). Repurchased stake is estimated at PLN 149.85 million (nearly $ 35.65 million at the exchange rate of the National Bank of Poland).

In future, the companies are going to work together, and one of them – Astarta should convene a meeting of shareholders to discuss the appointment of a representative to the board of directors of the group in the event of such suggestions from Fairfax.

Also read: Whithin what money do Ukrainian landowners leave?

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