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IMC (WSE: IMC) invests USD 5.316 mln to 20% land bank increase

“Industrial Milk Company” (WSE ticker: IMC), one of the biggest milk producers in Ukraine, has published the details of three agroenterprises buy-out in Poltavskaya and Chernigovskaya regions. The volume of deal was equal to USD 5.316 mln. New acquisition increases the land bank of the IMC by 7.5 thd hectares (+20%) to 45.5 thd hectares. Moreover, the cattle herd grows up by 1.9 thd heads, including 900 milk cows. Among other assets, the IMC acquires grain storages with total capacity equal to 5 thd tons and agricultural inventory. Recall that at the end of April 2011, the IMC has gone public on the WSE, selling 24% of stocks for PLN 80.73 mln (USD 29.8 mln).