Vasil Kisil & Partners advise on sale of 51% share in Spectr-Agro to Sumitomo Corporation


On 11 July 2018 Sumitomo Corporation (Sumitomo), Spectr-Agro LLC and Spectr-Agrotekhnika (Spectr-Agro) signed an agreement for acquisition by Sumitomo of 51% share in Spectr-Agro.

Vasil Kisil & Partners advise Spectr-Agro on all matters of the transaction, including tax and corporate structuring of the group, vendor due diligence of the companies and their assets for disclosure purposes, negotiations on the sale and shareholders' agreements and other transaction documents, merger clearance and obtaining permit for concerted actions etc.

Vasil Kisil & Partners' transaction team includes Mykola Boichuk, Dmytro Saranchuk and Yevhenii Senchenko, led by the partners Anna Sisetska and Alexander Borodkin.

"Ukraine is a big agricultural producer on a global scale and we are happy to be involved in establishing this joint venture, which we believe will be able not only increase the efficiency of Ukrainian agricultural producers, but will also exemplify the synergy between Ukrainian and international experience," commented Anna Sisetska.

"The agreement between Sumitomo and Spectr-Agro is very likely to become the 2018 most high-profile merger in Ukraine," added Alexander Borodkin.

Sumitomo is one of Japanese largest corporations. Its agri-scientific business has been exporting plant protection products (PPP) from Japan as No.1 Japanese exporter and operating agri-chemical distribution companies in 30 countries branded as Sumi-Agro or Summit Agro. Also, Sumitomo invested into the companies whose business model is very similar to Spectr-Agro in Romania and Brazil.

Spectr-Agro was incorporated in 2009 and operates throughout Ukraine. The company supplies CPAs, fertilizers, seeds and agricultural equipment to more than 3.5 thousand agricultural producers in Ukraine.