Wednesday, July 24, 2024

Obtaining loans allowed ViOil to refuse to sell part of the business

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    ViOil Industrial Group has decided to suspend the conclusion of the deal with Renvior Trading Limited, owned by Alexander Gerega, ViOil reported. In an interview, the company’s representative Victor Ponomarchuk, founder and chairman of the board of directors, explained that the decision to suspend the deal was made after two loans totaling $146 million were obtained. According to him, the company did plan to attract an investor and was negotiating the sale of a stake in Renvior Trading Limited, but the current financial situation changed the plans.

    Negotiations on the deal were suspended at the end of December and ViOil now plans to retain a controlling stake in the company. This decision is important for agribusiness in Ukraine, as ViOil is one of the largest producers of oilseeds in the country and also plays a significant role in the global market.

    Experts note that ViOil’s decision will affect the further development of agribusiness in Ukraine and may affect the company’s competitiveness both in the domestic and global markets. Also, this event attracts the attention of investors and market participants, as it reflects changes in the strategy and plans of major players in the industry.

    Despite the suspension of the transaction, ViOil continues to develop its production capacity and strengthen its market position. The company actively implements innovative technologies and strives to improve the efficiency of oilseed production. Its decision to retain control over the company may be an important step for further development of agribusiness in Ukraine.

    Thus, ViOil’s decision to suspend the transaction with Renvior Trading Limited is of significant importance for agribusiness in Ukraine and attracts the attention of market participants. This event may have an impact on the company’s competitiveness and further development of the industry, so it will be important for both investors and agribusiness participants in Ukraine to follow ViOil’s further steps.


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