Mriya Farming, CFG to introduce joint business strategy in spring 2019

Mriya Farming, CFG to introduce joint business strategy in spring 2019

Ukrinform
Mriya will continue its operations in Ukraine alongside SALIC's subsidiary, Continental Farmers Group (CFG).

 “Mriya Farming PLC (UK) and SALIC UK Ltd (Saudi Agricultural and Livestock Investment Company, United Kingdom) completed the deal for the sale to SALIC of a majority of the Mriya group`s Ukrainian farming assets, including infrastructure facilities, machinery, and companies holding land lease agreements. The transaction was closed following the approval from the Antimonopoly Committee of Ukraine (AMCU). The value and terms of the transaction have not been disclosed. Upon completion of the deal, Mriya will continue its operations in Ukraine alongside SALIC's subsidiary, Continental Farmers Group (CFG),” reads the statement posted on Mriya’s website.

As noted, both companies will complete the season as separate businesses and in current configuration. In the next few months, Mriya and CFG will focus on preparing for the integration of assets and developing the strategy of a combined business under management of Simon Cherniavsky as CEO and Mark Laird as Executive Chairman. The companies plan to introduce the joint business strategy in spring 2019.

Signing the deal on September 12, 2018 the new owner of Mriya already declared the intention to invest significantly over the next 2 years into new equipment, infrastructure, agricultural technology and land bank consolidation.  

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