News
15.10.2010
ING Bank sells 1% in Ukraine's Kernel Group, reduce stake to 5%
ING Bank sells 1% in Ukraine's Kernel Group, reduce stake to 5%
Netherlands-based ING Bank N.V. has sold 0.95% of the shares in Kernel Holding S.A., a holding company in Ukraine's Kernel Group, thereby reducing the stake in the company to 4.97%.
As a result, ING Bank's total shares in the holding have decreased from 4,335,575 shares to 3,638,655 shares.
The bank said it does not plan to boost its stake in Kernel over the next 12 months.
Kernel Group is a vertically integrated national company that has been working in the Ukrainian agriculture industry since 1994. It is a large player on the sunflower oil market and ranks among Ukraine's top-five grain exporters.
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