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Kyiv Post:
Noble latest commodities group to expand in Ukraine
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23 March 2012
Leading global commodity trader Noble Group has expanded its presence in Ukraine by acquiring grain-elevator owner Belgravia, the firm’s legal representative Salans said in a March 20 note.
No price tag was made public for the deal, the latest in a flurry of acquisitions in Ukraine by international commodities traders with an eye on the nation’s promising and fast-growing agriculture and food sectors.
Investment bank Renaissance Capital announced earlier in March that commodities giant Glencore International had bought sunflower seed crusher Kolos. Sources valued the acquisition at $80 million. Separately, Glencore has also indirectly boosted its presence in Ukraine with its recent $6 billion acquisition of Canadian grain trader Viterra. Both Glencore and Viterra had previously established grain trading operations in Ukraine.
Singapore-listed Noble Group had previously received some $50 million in loans from the European Bank for Reconstruction and Development to support its Ukraine operations.
Noble joins the ranks of US-based Cargill, ADM, Bunge and other leading international agriculture and commodity groups – all of which are long on their way into investing and expanding production, processing and trading businesses in Ukraine.KYIV POST
Leading global commodity trader Noble Group has expanded its presence in Ukraine by acquiring grain-elevator owner Belgravia, the firm’s legal representative Salans said in a March 20 note.
No price tag was made public for the deal, the latest in a flurry of acquisitions in Ukraine by international commodities traders with an eye on the nation’s promising and fast-growing agriculture and food sectors.
Investment bank Renaissance Capital announced earlier in March that commodities giant Glencore International had bought sunflower seed crusher Kolos. Sources valued the acquisition at $80 million.
Separately, Glencore has also indirectly boosted its presence in Ukraine with its recent $6 billion acquisition of Canadian grain trader Viterra. Both Glencore and Viterra had previously established grain trading operations in Ukraine.
Singapore-listed Noble Group had previously received some $50 million in loans from the European Bank for Reconstruction and Development to support its Ukraine operations.
Noble joins the ranks of US-based Cargill, ADM, Bunge and other leading international agriculture and commodity groups – all of which are long on their way into investing and expanding production, processing and trading businesses in Ukraine.
Source: Kyiv Post
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