Mriya Agriholding is implementing a program of business rehabilitation changes at an accelerated pace, said Holding CEO Vladyslav Lugovsky. “In particular, we are completing the business-model transformation, increasing manageability, reducing existing risks (commodity, the lack of integration), optimizing costs, the land bank. We’ll sell part of our land – for instance, a 16,000 ha parcel in Zhytomyr region. We’ll partially give up for avoiding additional maintenance costs,” he says. Also, according to Vladyslav Lugovsky, a package of proposals has been developed for creditors and investors with the help of advisors from Deloitte Touche Tohmatsu Limited. Once it was discussed and approved by all the interested parties, Mriya got a roadmap that will allow meeting its liabilities as fully as possible. “The point of our proposals is to merge all of our assets into one entity with an economically grounded capital structure and to transfer to creditors as collateral not only the assets themselves but also the corporate rights to it. We also offer our creditors a package of additional guarantees and possible forms of participation in co-investing in the business with further profit sharing,” Lugovsky says.

UkrAgroConsult