Fairfax purchased 28% stake in Astarta

17 May 2017

Canadian investment fund Fairfax Financial Holdings completed the deal regarding purchase of 28% stake in Astarta Holding.

In August 2016 it was announced that both companies agreed on purchase by Fairfax of the stake in Astarta (purchase of 10% and option to acquire additional 18%). The deal has been realized in three stages on the first one realized in January 2017 Canadians purchased first 10% stake in Ukrainian company, on the second one (March 2017) another 10%, on the third (May 2017) 8% (remaining share of Valeriy Korotkov, which stepped out of shareholders list of Astarta).

Last deal price comprised PLN 60 per share (at the moment Astarta shares market quotations stand at about PLN 70, total market capitalization close to USD 463M). During last year share price of the largest Ukrainian sugar producer and soybeans processor grew by about 56%.

At the moment the largest shareholder of Astarta is Mr. Viktor Ivanchik (36% stake in the company), followed by Fairfax with 28% stake. The rest is free float.

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