A'SPIK Group buys ED&F Man subsidiary

 

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The Antimonopoly Committee of Ukraine granted permission to A'SPIK Group to acquire ED&F Man subsidiary.

It is stated in the message of the AMCU, AgroPortal reports.

«Agro-Orms» LLC has got a permission to acquire a stake in the authorized capital of «Ukrainian Sugar Company» LLC, which provides for exceeding 50% of the votes in the company's top management body», — the agency said.

«Agro-Orms» LLC is a part of A'SPIK Group. «Ukrainian Sugar Company» LLC is a subsidiary of ED&F Man.

A'SPIK Group is engaged in sugar production, growing of sugar beets, grain, soybeans and corn, as well as animal husbandry. «Starokostiantynivtsukor» LLC and «Shepetivka Sugar Refinery» PJSC, members of the group, specialize in sugar beet processing, production of sugar, molasses and granulated pulp. Enterprises produce 5% of the total state volume of sugar, which allowed to enter the TOP-5 largest sugar producers of Ukrane. In July 2020, A'SPIK Group completed the purchase of PJSC «Krasyliv Sugar Refinery».

ED&F Man was founded in 1783 by James Mann in London. It is the largest supplier of food, sugar, spices, animal feed, tropical oils, rubber, biofuels and coffee through a network of offices and agencies in 50 countries. In Ukraine, ED&F Man owns Zasilsky Sugar Refiinery and its subsidiary «Ukrainian Sugar Company».


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