Kernel (IFC-38057)

Countries
  • Ukraine
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
KERNEL-TRADE LLC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 95.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 29, 2017

Disclosed by Bank Apr 8, 2016


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Project Description
IFC's proposed investment will support a leading grain trader, crusher and a primary agricultural producer, Kernel Holding S.A. with significant linkages to the economy of rural areas. Kernel is a leading, diversified agribusiness company in Ukraine's Black Sea region listed on the Warsaw Stock Exchange.
Investment Description
  • International Finance Corporation (IFC)
Kernel Holding S.A. shares are listed on the main market of the Warsaw Stock Exchange since November 2007. Mr. Verevskiy owns 39.21% of the Company through Namsen LTD, incorporated in Cyprus. Another significant shareholdings are owned by ING OFE (6.01%) and Cascade Investment Fund (5.0%) with the rest owned by various shareholders.
Contact Information
Yegor Samusenko Investor Relations Manager mailto:y.samusenko@kernel.ua Tel.: +38 044 461-88-01, ext. 70-88 3 Tarasa Shevchenka Lane, Kyiv, Ukraine, 01001 Anastasia Usacheva Chief Financial Officer mailto:a.usacheva@kernel.ua Tel.: +38 044 461-88-01 3 Tarasa Shevchenka Lane, Kyiv, Ukraine, 01001 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/