Bakhmatyuk's poultry company will challenge in court the confiscation of its property in Crimea
Simferopol, August 19 (Navigator, Evgeny Andreev) – One of the world’s largest poultry companies, Avangardco, is going to court with accusations of “forced nationalization” of its property in the Republic of Crimea.
Subscribe to the news "Navigator - Crimea" in Facebook, Classmates or In contact with
The British newspaper The Financial Times writes about this and reports the foreign press digest InoPressa.
In recent months, the publication notes, Simferopol officials have brought a number of Ukrainian state-owned oil and gas companies under their control.
“However, on Friday, the Crimean leadership for the first time unveiled plans centered on a public joint-stock company, announcing plans to forcibly buy out the local Avangardco poultry farm,” the article says.
The head of Avangardco, Oleg Bakhmatyuk, claims that he has not received any offer to sell, and, according to him, is not going to sell the company’s property in the Republic of Kazakhstan, the author of the publication reports.
Bakhmatyuk leads Avangardco due to the fact that he is the head and founder of the agricultural holding Ukrlandfarming, which ranks eighth largest in the world, and owns 77,8% of the poultry company.
“Last year, American food company Cargill acquired a five percent stake in Ukrlandfarming for an undisclosed price, but analysts estimate the deal is worth approximately $200 million, valuing Ukrlandfarming at $4 billion,” writes The Financial Times.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.