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MHP is undertaking a major strategic step with the acquisition of Perutnina, which will add value to the company and strengthen its position as a global player.
Ukraine's major chicken meat producer PJSC Myronivsky Hliboproduct (MHP) has signed an agreement to buy 90.68% of the issued share capital of a Slovenian poultry producer, Perutnina Ptuj (PP).
"MHP SE, a leading international agro-industrial group, following the announcement of its intention to acquire Perutnina Ptuj D.D. ('Perutnina') on September 26, 2018, announces today that MHP has signed an agreement for the acquisition of 90.68% of the issued share capital of Perutnina, a well-established and vertically integrated company in Southeast Europe, including, Slovenia," reads a statement by MHP published on the London Stock Exchange's website on November 20.
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As reported, the pending transaction is subject to customary closing conditions, including antitrust clearance being obtained.
Thus, MHP is undertaking a major strategic step with the acquisition of Perutnina, which will add value to the company and strengthen its position as a global player.
MHP plans to increase sales of existing brands and products of Perutnina Ptuj in the Balkans and in Western Europe.
As UNIAN reported, MHP earlier received permission from the Serbian Commission for the Protection of Competition to acquire a 90.69% stake in Slovenian-based Perutnina Ptuj.
MHP presented plans according to which it will invest about EUR 200 million ($228 million) in the production base of Perutnina Ptuj in the next four to five years.
In 2017, MHP received US$230 million in net profit, which was 3.3 times up from 2016. The holding's revenue grew by 13% in 2017, to $1.288 billion.
The company in 2017 sold 532,727 tonnes of core products, which corresponds to indicators reported in 2016.
UNIAN memo. PJSC Myronivsky Hliboproduct is a Ukrainian major poultry meat producer. In addition to poultry farming and related industries, the holding is engaged in the production of corn, sunflower, wheat, rapeseed, fruit, as well as beef and sausages. The company's land bank is 370,000 hectares.