POLISH FINANCIAL SUPERVISION AUTHORITY
UNI - EN REPORT No42/2011
Date of issue:2011-08-15
Short name of the issuer
KERNEL HOLDING S.A.
Subject
ACQUISITION OF RUSSIAN OILS
Official market - legal basis
Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
Unofficial market - legal basis
Contents of the report:
Kernel Holding S.A. informs that the Company recently executed a share purchase agreement to acquire a 100% interest in the company Russian Oils. Completion of the share purchase agreement is subject to certain standard conditions precedent, which are expected to be lifted early September 2011. The acquisition of Russian Oils adds a total of 400 000 tons of sunflower seed crushing capacity per year in 3 plants located in the Krasnodar and Stavropol regions, south of Russia. One of the plants also offers 100 000 tons per year of oil refining and bottling capacity. Kernel is purchasing Russian Oils at an enterprise value of USD 60 million, of which in the range of USD 15 million shall be paid as cash consideration upon fulfillment of the remaining conditions precedent.
Annexes
FileDescription
KERNEL HOLDING S.A.
(fullname of the issuer)
KERNEL HOLDING S.A.Spożywczy (spo)
(short name of the issuer)(sector according to clasification of the WSE in Warsow)
L-1331Luksemburg
(post code)(city)
boulevard Grande-Duchesse Charlotte 6565
(street)(number)
(phone number)(fax)
(e-mail)(web site)
1234512345
(NIP)(REGON)
SIGNATURE OF PERSONS REPRESENTING THE COMPANY
DateNamePosition / FunctionSignature
2011-08-15A.Usacheva, P.ConradDirectors