Sunolta group of companies acquired assets in Odesa port to increase export potential
The Sunolta group of companies invested in the acquisition of technological capacities for the transshipment of grain crops for export in the terminal located on the territory of the Odesa Sea Trade Port.
In particular, it purchased part of the logistics port facilities and equipment that belonged to the GNT Group company (grain terminal “Olympex Coupe International”) and was pledged by Ukrainian banks for debt obligations.
By investing in port assets, Sunolta implements the strategy of expanding logistics capacities, significantly strengthens its position in the agricultural market, ensures business stability, and minimizes the risks of exporting its own products. When exporting grain crops, a group of companies will be able to receive stevedoring services at the expense of their own capacities, thereby reducing the impact of external economic factors on the market.
As you know, in 2022, due to the full-scale aggression of the Russian Federation, the work of ports in Ukraine was stopped. Grain was exported only by wheeled transportation (by road or by train). A significant amount of agricultural products depended on storage, spoiled, and subsequently destroyed.
Moreover, last December, a public legal dispute broke out between GNT Group and the company’s creditors over the Olympex Coupe International grain terminal. The parties to the conflict announced possible interruptions in the operation of the grain terminal, which endangered the shipment of agricultural products of Sunolta, which used the services of this terminal in the port of Odesa.
Considering the totality of these circumstances, the group decided to invest in a grain terminal and expand the export potential at the expense of its own logistics capacities.
The purchase of part of the port facilities of “Olympex Coupe International” from creditors allows Sunolta to receive a full range of stevedoring services without interruption when exporting its own products.
The group is also considering the possibility of further investment in the expansion of logistics capacity in the port of Odesa, including by buying out other property of “Olympex Coupe International” LLC, which is in line with creditors.
