Avellum has advised Kernel Holding on the sale of several of its farming entities to a company controlled by Andrii Verevskyi.
According to Avellum, “the land bank held by the entities comprises around 134,000 hectares of farmland and related farming infrastructure. The consideration to be paid to Kernel is USD 210 million. Andrii Verevskyi controls Kernel’s largest shareholder and is also the chairman of Kernel’s Board of Directors.”
According to the firm, “the aim of the transaction is to de-risk the business and improve mid-term liquidity of Kernel, amid a blockade of Ukrainian Black Sea ports caused by Russia’s unprovoked military aggression against Ukraine.”
Avellum’s team included Partner Yuriy Nechayev and Associate Maryna Buinytska.