Swiss-held Alimenta Group, the shareholder of Expur Urziceni -producer of vegetable oil brand Ulcom, which last year entered thebiodiesel market, will sell all vegetable oil and biodieselproduction divisions held via Expur Urziceni to French giantSofiproteol, but will retain 13,000 hectares of farming land inGalaţi county.
"Agricultural operations, which belong to some of the Expurshareholders are not included in this sale. Agricultural operationsinvolved around 13,000 hectares in the Călăraşi area, close to theDanube, where rapeseed, sunflower, wheat, barley, and maize aregrown," said Richard Radag, president of Expur Urziceni, without,however, revealing the name of the corporate entity through whichthe Swiss own these plots.
Alimenta Group started negotiations with Sofiproteol for thesale of Expur Urziceni - the biggest biodiesel producer in Europe,with 5.5 billion euros in turnover, with the due diligence processbeing close to completion. Representatives of Alimenta andSofiproteol, which will be advised both by Romanian and French lawfirms, did not reveal the value of the transaction. However,sources from the industry say the French could pay between 60 and100 million euros for Expur, making it the biggest transaction onthe local vegetable oil market.
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