DN AGRAR GROUP SA received the approval of the Romanian Competition Council, for the acquisition of the APOLD farm, from the Dutch GARBOVA CV Investment Fund, according to company representatives.
In order to carry out this transaction, DN AGRAR GROUP SA obtained an investment loan in the amount of 13.8 million euros from ING BANK NV AMSTERDAM, for which it follows that , at the end of January 2022, to sign the financing contracts.
Following the completion of this transaction, DN AGRAR GROUP SA will fully own the share capital of the APOLD farm.
At the end of December 2020, the APOLD farm had a net turnover of 41.6 million lei, fixed assets of 44 million lei and equity of 24.46 million lei.
The main objective of DN Agrar, after taking over the Apold farm , is to increase the milk production capacity of the farm by 50%, until the end of this year. This investment project includes the construction of an additional milking parlour, additional stalls for the animals, the increase of the livestock and the additional feed storage hall .
After the completion of the transaction , the financial position of the APOLD farm will be added to the financial performance of the DN AGRAR GROUP SA group of companies, which recorded , on December 31 , 2020, a turnover of 38.2 million lei and fixed assets worth 57.6 million lei.
The farm DN AGRAR APOLD SRL has integrated plant and livestock production , as well as the management of the farm in the agribusiness of the group of companies DN AGRAR, thus, after the completion of the takeover transaction , no process will be necessary transition of these activities .
“The takeover transaction of the LACTO AGRAR SRL farm was successfully concluded at the end of December 2021. For the APOLD farm, we estimate that the transaction will be completed in March this year. With these acquisitions , DN AGRAR GROUP will become the largest livestock farm with cow ‘s milk production in Romania . Thus, we achieved our proposed objective with the launch of the steps to list the company on the AeRO market , the Bucharest Stock Exchange and ti, respectively that of being the largest producer of cow’s milk and the market leader in Romania”, said Jan G. de Boer, CEO of DN Agrar.
Source: https://financialintelligence.ro/dn-agrar-group-preia-ferma-de-vaci-apold/
