KERNEL (KER): KERNEL HOLDING S.A. ACQUIRES A FARMING BUSINESS IN UKRAINE - raport 23

UNI - EN REPORT No23/2017

Kernel Holding S.A. (herein “the Company”) is pleased to announce that it has completed an acquisition of 92.1% interest in a farming business that manages more than 190,000 hectares of leasehold farmland and approximately 200,000 tons of grain storage capacity. The Company expects to complete the acquisition of the remaining 7.9% interest prior to 1 July 2017.

The Company will pay US$155 million in cash for the 100% interest in the business, which has a positive net working capital less net debt in excess of USD$30 million.

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