You're reading: Sources: Ukrainian businessman Bakhmatiuk buys Rise agribusiness

Ukrainian businessman Oleh Bakhmatiuk, a majority shareholder in Avangard, a leading producer of eggs and powdered egg products in Ukraine, has bought the Kyiv-based Rise agribusiness, several stock market players have told Interfax-Ukraine.

According to the sources, the deal is advised by Troika Dialog Investment Company. The company has not commented on the report.

Market players also said that it is likely that Ukrlandfarming, the co-owner of which is Bakhmatiuk, is buying the company.

A possible purchase of another agricultural holding – Dakor Agro Holding (Rivne) – by Bakhmatiuk is being actively discussed on the market. However, Interfax-Ukraine has not managed to receive confirmation of this deal.

As reported, CJSC Rise was established in 1992. The main facilities of the company are located in Poltava and Sumy regions. The company’s land holdings comprise 180,000 hectares.

In 2008-2010 the consolidated credit portfolio of the company came to over $300 million.

Avangard is a leading producer of eggs and powdered egg products in Ukraine, with market shares of approximately 23% (including 39% of industrially produced fresh eggs) and 52% respectively in 2009. Avangard’s production facilities are located across 14 regions in Ukraine.

Land West Company and the Dakor Western Company in September 2009 announced the completion of a merger of their assets, as a result of which a new company, Cyprus-based Dakor Agro Holding, was founded. Danil Korilkevych, who controlled 69.34% of stocks in Land West and 77.41% of stocks in Dakor, consolidated his assets by into one stockholding numbering 4.1 million stocks, which accounted for 75.81% of stocks in new Dakor Agro Holding.

Land West’s capital accounted for 20% of Dakor Agro Holding’s property, and that of Dakor for 80%.