15 Jun 2011 12:09
15 June 2011
AVANGARDCO INVESTMENTS PUBLIC LIMITED
LLC Imperovo Foods receives permission of AMCU to acquire equity stake in LLC Imperovo Ltd
KIEV, UKRAINE - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) ("The Company" or "Avangard"), the largest producer of eggs and egg products in Ukraine, today announces that LLC Imperovo Foods, Avangard's egg processing plant and a subsidiary of the Company, has received permission from the Antimonopoly Committee of Ukraine ("AMCU") to acquire the equity stake in LLC "Imperovo" Ltd (Ivano-Frankivsk), which provides an excess of 50% of the votes in the supreme governing body of LLC "Imperovo" Ltd.
In November 2010, Stanislavska Torgova Kompaniya LLC, Avangard's related party LLC Imperovo Foods leased its property, plant and equipment from, created a new entity, LLC Imperovo Ltd, with the aim of spinning off all of the above mentioned leased assets and facilities to LLC Imperovo Ltd. On 29 March 2011, LLC Imperovo Foods filed an application to the AMCU in order to obtain an approval for the acquisition of an equity stake in LLC Imperovo Ltd, this approval has now been granted. It is subsequently expected that LLC Imperovo Ltd will transfer its corporate rights in LLC Imperovo Foods to LLC Imperovo Foods.
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For further information please contact:
Victoria Korolchuk
Avangard
Head of Investor Relations
phone.: +38 044 593 28 60
mob.: +38 067 214 84 23
e-mail: v.korolchuk@avangard.co.ua
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