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Astarta does not rule out attracting new investor to accelerate development
KYIV. Aug 27 (Interfax-Ukraine) – The board of directors of Astarta Holding N.V. (the Netherlands), a holding company of Astarta agro-industrial group, began studying strategic options that could accelerate the development of the agro-holding, including by attracting a new investor.
According to a statement released by the company on the Warsaw Stock Exchange, Astarta does not rule out negotiations with potential industry or financial investors in the future. In addition, the company will consider options for possible development strategies in order to find the most effective way to strengthen its business while respecting the interests of existing shareholders.
"At the same time, the company informs and emphasizes that it has not made any decisions related to the choice of a specific strategic option, and there is no certainty whether such a decision will be made in the future," the company said in a statement.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes eight sugar factories, agricultural enterprises with a land bank of 220,000 hectares and dairy farms with 22,000 cows, seven elevators, a biogas complex and a soybean processing plant in Poltava region (Globino Processing Plant LLC).
The agricultural holding in 2020 increased its net profit 5.1 times, to EUR8.61 million, revenue decreased by 7.2%, to EUR415.63 million.
The owner of 40% of shares of Astarta Holding N.V. (Netherlands), the holding company of Astarta agro-industrial group, as of June 30, 2021, is director general of the agricultural holding Viktor Ivanchyk, 29.91% of the shares belong to Fairfax Financial Holdings Limited (Canada), 30.09% – to the rest of the shareholders.
