Ukraine’s largest grain producer and exporter, agricultural holding Kernel, has agreed to acquire Agro Region, a farming group partly owned by former Ukrainian economy minister and Lithuanian national Aivaras Abromavičius, Ukrainian news portal Latifundist reported, citing two sources.
According to Ukraine’s YouControl corporate data system, Agro Region is owned through Garna Stocholm Holding by Abromavičius, who holds a 53.6% stake, and by Lars Peter Elam Hakansson, who owns 44.28%.
Experts cited by Latifundist estimate the value of the transaction at about $110 million, or roughly 94 million euros at current exchange rates. The parties have reportedly agreed on the key terms of the deal and are now awaiting approval from Ukraine’s Anti-Monopoly Committee.
One source told the portal that this is Kernel’s second attempt to acquire Agro Region since Russia launched its full-scale invasion of Ukraine. During the first round of talks, the parties failed to agree on the price. According to the sources, the deal involves the acquisition of the entire company, including corporate rights, land, machinery and grain storage assets.
The deal was first reported by Lithuanian business daily Verslo žinios.
Agro Region controls about 41,000 hectares of farmland and operates in the Kyiv, Chernihiv, Zhytomyr and Khmelnytskyi regions.
Kernel accounts for about 8% of global sunflower oil exports and supplies products to more than 60 countries, according to the company’s website.
About 95% of Kernel’s shares are owned by Namsen Limited, a Cyprus-registered company. Kernel’s revenue in 2025 totalled $4.11 billion, up 15% from 2024, according to its financial statements.
Latifundist reported that Kernel’s board chairman is Andrii Verevskyi, whose wealth is estimated at $1.1 billion, according to Forbes.
Abromavičius currently serves on the supervisory board of Goindex, a Lithuanian pension fund management company, according to Lithuania’s Centre of Registers.
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