Cargill, an American agribusiness giant, has bought a 5% stake in Ukrlandfarming (ULF), an Ukrainian integrated agricultural firm, for an undisclosed sum.
The move comes as the parties seek to enhance and develop their relationship to achieve significant business opportunities, beneficial to both.
ULF is working with Cargill's grain division to cater to its requirements for grains in Ukraine, while the American firm is providing financial assistance to ULF, which allows it to secure supply.
Ukrlandfarming CEO Oleh Bakhmatyuk said that the agreement with Cargill indicates an important step for Ukrlandfarming in developing its international presence and export potential.
"It signals of not only significant potential of Ukrlandfarming but the Ukrainian agricultural sector as a whole to the World. We look forward to developing further relationships with Cargill."
In addition, the companies are considering other projects, including logistics. The parties will continue to work together to explore these projects.
Cargill stated that it will not be engaged in any operational activity of ULF.
