Continental Farmers Group, owned by Saudi Salic UK, buys an agricultural holding in Odesa

The Antimonopoly Committee granted permission to conclude the relevant agreement on June 13, 2024, writes inventure.com.ua.

Illustrative photo

In particular, AMCU granted permission to "Agro LV Limited" LLC to directly purchase assets in the form of a single property complex owned by the ownership right of "Exim-Agro" PSP.

"Agro LV Limited" LLC is registered in the village of Zabuzhzhia near Sokal (Lviv region). Its sole founder is "Continental Farmers Group" LLC, owned by Saudi Salic.

PSP "Exim-Agro" is a private enterprise of Ivan and Alytyna Dimovyh, who control DMV Group. The company is registered in the village of Zabary, Odesa region, but the group also has assets in the west of Ukraine, in particular in the Lviv and Rivne regions. According to Latifundist, the land bank of the DMV Group is up to 20 hectares.

It will be recalled that in 2018, the Saudi Salic fund bought most of the agricultural assets of the bankrupt Mriya agricultural holding, including all infrastructure facilities, a technical park, as well as companies that own the right to lease the land bank.

At that time, a small agricultural holding CFG (Continental Farmers Group) already belonged to the Saudi company in Ukraine. After the acquisition of Mria, the assets were united under the Continental Farmers Group brand. The United Land Bank in the cultivation of "Continental" amounted to 195 thousand hectares in four regions of Western Ukraine.

Established in 2011, Salic is engaged in providing food to the population of Saudi Arabia and is owned by the Kingdom's Public Investment Fund.

Investments of Continental Farmers Group during the war in Ukraine

Agricultural holding Continental Farmers Group invested EUR 2023 million in the expansion of production in Ukraine in 60, which was invested in the construction of new infrastructure facilities and increasing exports, this work will continue, said the general director of the agricultural holding, Georg von Nolken.

"We invested over EUR60 million last year in expansion and creation of new facilities in Ukraine and in increasing exports to other countries. We transferred EUR23 million to the country in the form of humanitarian aid, as well as provided seeds and supported Ukrainian households," he said during the Conference on the Reconstruction of Ukraine in Berlin.

The CEO of the agricultural holding emphasized that the Ukrainian agricultural sector is working perfectly, but farmers lack a lot. Despite this, Ukrainian agrarians planted crops, even taking into account the reduction of agricultural land, and harvested a decent harvest.

According to him, thanks to joint efforts, the international community, the protection of ports, the mechanism of Black Sea transportation, the export of Ukrainian agricultural products is really very good.

"This is very important, because if we decide to invest in the construction of production enterprises, then additional finances are needed. And it is very difficult to get them now in Ukraine. In agriculture, thanks to chernozems, Ukraine is a real paradise. But agriculture is an industry where you have to make the right decisions. If we don't have working capital, it's a collapse," Georg von Nolken explained.

He also emphasized the difficulties that arise in the Ukrainian agricultural sector due to the shortage of labor. In this situation, the agroholding's partnership with farmers and micro- and small businesses saves the day. Accordingly, "Continental" supports them and intends to continue to do so, as well as invest in agriculture.

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