Ukrainian MHP Buys 41% of Spanish Poultry Company UVESA

The Ukrainian agro-industrial company MHP is buying 41% of the shares of poultry and meat producer UVESA, one of the leaders in the Spanish market, MHP reported in a press release.

On March 20, MHP signed a share purchase agreement with UVESA. Under the terms of the agreement, the price per share is fixed at €225 ($243.61).

The contract also includes a potential additional payment of up to €21.43 per share, if certain conditions are fulfilled after the deal is completed, the press release says.

The deal also allows other UVESA shareholders to join the SPA (Share Purchase Agreement) within a month of signing, enabling them to participate in the company under the same conditions.

MHP will pay for the shares in cash upon closing the transaction. To finalize the deal, the company must obtain all necessary regulatory approvals, including clearance for market concentration and approval from the European Commission under the EU Foreign Subsidies Regulation, the press release says.

“The partnership with MHP marks a new and significant phase for UVESA. This collaboration aims to strengthen the company, open up new opportunities, and expand our presence in the international market,” said Antonio Sánchez, President of UVESA.

In early February, the Spanish Fuertes Group also made an offer to buy UVESA, valuing the company at €312 million ($337.80 million), according to the Spanish media outlet. Meanwhile, MHP offered approximately €400 million ($433.43).

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On March 4, the Spanish government officially approved MHP’s strategic investment in UVESA and its subsidiaries, the press release says. 

“For MHP, expansion in Europe is primarily about building strong partnerships, implementing innovations, and embracing sustainability principles,” Yuriy Kosiuk, founder of MHP, said. 

“MHP will support UVESA’s growth and help the company scale up and enter new markets in Europe and the Middle East,” Kosiuk added.

MHP exports products to more than 80 countries worldwide.