KERNEL (KER): ACQUISITION OF A FARMING BUSINESS IN UKRAINE - raport 29

UNI - EN REPORT No29/2017

Kernel Holding S.A. (herein “the Company”) is pleased to announce that one of its subsidiaries has completed an acquisition of 100% interest in a farming business that manages more than 27,500 hectares of leasehold farmland and over 170,000 tons of grain storage capacity.

Total consideration of US$43.3 million has been paid in cash for the 100% interest in the business, which has a positive net working capital less net debt in excess of US$4 million.

The deal has been approved by the Antimonopoly Committee of Ukraine in May 2017.