July 25, 2023
Houston, TX - SigmaBleyzer, a private equity investor in Ukraine, announces that its subsidiary, Konkur Investments Limited (« Konkur »), has entered into a conditional agreement to sell all of its AgroGeneration shares (126,084,106 shares, representing 56.90% of its share capital and voting rights) (Euronext: ALAGR) to a local Ukrainian company, NOVAAGRO, which specializes in the production, transport and storage of grains and oilseeds. This agreement provides for the acquisition of the AgroGeneration shares held by Konkur at a price of USD 0.036 per share (or € 0.033 per share based on today's exchange rate) and the repayment of the shareholder's current account debt held by Konkur on AgroGeneration in the amount of approximately USD 3.191 million.
The completion of the transaction is subject to two main conditions precedent: (i) approval of the acquisition by the Ukrainian competition authority (Anti-Monopoly Committee); and (ii) the buyer obtaining adequate sources of financing for the acquisition. Given the significant unrest in Ukraine, including the ongoing war, the completion date of the acquisition cannot be determined at this stage.
In accordance with applicable French legislation, the completion of the transaction should lead in due course to a recomposition of the Board of Directors of AgroGeneration and will give rise to the submission of a mandatory public tender offer by NOVAAGRO for all AgroGeneration shares not already held by the latter. The price per share offered by NOVAAGRO, in the context of the said public offer, will be determined on the basis of the price per share paid in connection with the acquisition of the block of shares held by Konkur (and taking into account the repayment of the current account), and will be the subject of a valuation report by an independent expert to be appointed pursuant to article 261-1 of the AMF General Regulations.
A listing suspension has been requested for the day of July 26, 2023.
SigmaBleyzer helped guide the company over the past 10 years, reaching record performance in the year before the Russian invasion (2021).
SigmaBleyzer is a leading Western investment management and advisory company with decades of experience in Eastern Europe. The commitment of SigmaBleyzer to Ukraine is reflected in its investment approach, which is based on a long-term vision of the country's economic development. The company believes deeply in Ukraine's potential and is committed to investing in projects that promote growth and create sustainable value for the Ukrainian economy.
Founded in 2007, AgroGeneration is a large-scale producer of grain and oilseed. The company's core business is grains and oil commodity crop farming, operating near 30,000 hectares of high quality agricultural lands in the East of Ukraine.
All information on AgroGeneration's website : www.AgroGeneration.com
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