Kernel bought out the part of the debt of the Creative Company

Kernel bought out the part of the debt of the Creative Company

15.02.2016 News

Kernel bought out the part of the debt of the Creative CompanyThe Cabinet of Ministers of Ukraine allowed the state Ukrgasbank to sell  to the enterprise of agricultural companies Kernel Group rights to the loan of the private joint-stock company Creative  for $95,753,000, transmit “Ukrainian News”.

The order has been agreed by the National Bank. Collateral for loans was performed the complex for the production of sunflower oil in Kirovograd worth $ 36 million.

The initial selling price is $ 95.753 million dollars (the credit is $ 86 million and the interest on the loan). This loan of $ 86 million is not served by  Creative from May 2015.

 Ukrgasbank  has decided to hold a competition for the sale of rights to claim for this loan. According to the results of the competition was approved an order for the sale at nominal value of $ 95.8 million of claims under the loan.

One of the companies  of  Kernel group – Grain Terminal – was determined the winner.

Kernel Group is a national company operating in the agricultural sector of Ukraine in 1994. It produces sunflower oil, carries out the distribution of bottled oil in the country, exports of oil and grain, provides the storage of grains and oilseeds at the elevators, and also has agricultural production.

The Agroindustrial Creative Group is  a company specializing in the processing of agricultural products, production of feed products for livestock and poultry, food and biofuel production. The company has 9 factories, crop farms and livestock complex.

Source: latifundist.com

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