Milkiland may sell Ostankino Dairy Plant to Unicredit - Information portal

Milkiland may sell Ostankino Dairy Plant to Unicredit

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09.10.2015 Количество просмотров 542 views
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According to media reports, Milkiland has put up the Ostankino Dairy Plant for sale because of debts.

As it became known to the press, the plant was collaterized for a loan, while its debt reached some $100 million – the intended sale of the asset is most likely associated with these reasons. It should be recalled that Milkiland ended last year with a loss of EUR72.4 million and paid no dividends to its shareholders.

The estimated cost of the dairy plant is 55-65 million dollars – this is approximately equal to Milkiland’s net income after taxes for 7 years. According to media reports, the plant was offered to the Unicredit bank.

Milkiland make a name for itself on the market in 1994. Currently its assets are located in Russia, Ukraine and Poland, and the total production capacity of the Group is 1 million tones of dairy products annually.
Source:  Retail&Loyalty


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