AVELLUM acted as legal counsel to Kernel Holding S.A. on the acquisition of 100% of Enselco Holding Limited, an agricultural group with a land bank of 190,000 hectares, a network of grain elevators and its own fleet of grain railcars. The total consideration amounted to USD 348 million.
This transaction forms part of Kernel’s broader strategy to streamline and scale its agricultural platform, consolidating assets within a single structure and supporting further expansion. The decision followed the stabilisation of Black Sea exports, which has strengthened the company’s confidence in investing in crop production and logistics.
AVELLUM provided comprehensive legal support, including participation in negotiations, and preparation of transaction documentation.
“Our collaboration with AVELLUM team spans nearly two decades and includes a series of increasingly complex and strategically significant transactions. This landmark deal required careful structuring and coordination.
AVELLUM played a central role not only in execution, but in shaping the transaction structure and leading the negotiation strategy. Their ability to combine deep legal expertise with a strong commercial perspective was critical to navigating the complexity of the process and achieving a successful outcome,” comments Mykhailo Yavorskyi, Associate Director responsible for corporate investments at Kernel.
The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Anastasiia Tartak and Mark Zaklivenets.
Enselco Holding Limited is an agricultural group operating in the Khmelnytskyi, Ternopil, Zhytomyr, Kyiv and Chernihiv regions, specialising in the cultivation of grain and oilseed crops.
Kernel is one of the largest agricultural groups in Ukraine, operating a fully integrated model across the production, storage, processing and export of agricultural products.
