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  AGROGENERATION company press release from 30/01/2019

  30/01/2019 - 18:00

AgroGeneration strengthens its financial position by selling some agricultural lands and securing its 2019 crop year financing

Paris, January, 30, 2019

AgroGeneration, announces today the signing of agreements for the sale of agricultural lands in the Zhytomyr and Ternopil districts, in western Ukraine.

These sales represent a total of 28,500 hectares of harvested lands (27% of the Group's total hectares) and a sale price of approximately €19m. This price includes land lease rights and biological assets whereas machinery and inventory will be part of a separate sale.

After the completion of these transactions, AgroGeneration will operate approximately 80,000 hectares of land in Ukraine with close to 10,000 hectares in the West (Lviv) and 70,000 hectares in the East (Sumy and Kharkiv).

Due diligence, which could lead to a price adjustment, should be finalized by the end of February 2019. A prepayment has already been made to AgroGeneration for approximately 15% of the total price and an equivalent amount will be placed into an escrow account for a maximum period of 9 months after completion of the due diligence.

In addition, while the company suspended its ORNANE program, end November 2018, after having drawn down € 4 million out of a total of € 20 million, the company will thus generate cash and reduce its operating financing needs.

In this regard, AgroGeneration has secured its 2019 crop financing from its historical banking partner Alfa-Bank Ukraine for a total amount of $ 23 million, and will top-up its financing with pre-payment agreements with its usual key trading partners. The company has already sown, under favorable weather conditions, 34,000 hectares of winter crops, out of a total of 77,000 hectares planned.

AgroGeneration is thus starting the year 2019 with confidence with a solid financial position and quality assets.


Founded in 2007, AgroGeneration is a global producer of grain and oilseed. Following its merger with Harmelia, the new group has become one of the top five producers of grain and oilseed in Ukraine, with close to 110,000 hectares of farmland. Through the high-potential farmland it leases, the group's ambition is to meet the food challenges of tomorrow as global consumption doubles in scale between now and 2050.

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