Parallel says HarvEast operations and commitments to remain unchanged after 75.1% stake acquisition
The change of ownership at agricultural holding HarvEast, in which Oleksandr Dubinin's Parallel plans to acquire a 75.1% stake from Rinat Akhmetov's SCM Group, will not affect its current operations or fulfilment of its commitments, the companies said.
Oleksandr Dubinin's Parallel is set to acquire a 75.1% stake in agricultural holding HarvEast from Rinat Akhmetov's SCM Group, but the companies have assured that this change of ownership will not impact HarvEast's ongoing operations, commitments or processes. They have reiterated that all agreements with partners, land-share owners, local communities and other stakeholders will continue as before.
Parallel's CEO, Dmytro Skorniakov, along with senior management and staff, will maintain their roles unchanged. The acquisition is currently under negotiation and is expected to be finalized after completion of necessary legal procedures and regulatory approvals. The investment is expected to bolster Parallel's diversification efforts and expand its presence in sectors significant to the Ukrainian economy.
Priorities for Parallel remain the cultivation of grain and oilseed crops, expansion of irrigation-based seed production and development of bioenergy.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
