News
09.10.2009
Pakko and Agrokontrakt come to agreement on merger
Two Ukrainian food retailers Pakko and Agrokontrakt have reached framework agreement on merger of assets. The merger is aimed to attract a large foreign investment fund to the project selling it a minor shareholding in the united company. Pakko has eight cash & carry stores with the same name and 88 supermarkets Vopak with the total sales area of 88,000 square meters. Income of the company stood at UAH 1.60bn (EUR 130.95mn USD 192.77mn) in 2008. Agrokontrakt has 18 supermarkets Kolibris with the total area of 17,000 square meters and three discounters Nash. Most stores are located in the Western Ukraine.
According to several market insiders, the matter concerns not merger of the chains but acquisition of about 50% in Pakko for about USD 2mn by Agrokontrakt.
Kommersant Ukraine
