Acquisition of an organic farm in Eastern Europe

Energy – AQuarius Renewable Wave Technology
November 15, 2017
Natural Resources
November 16, 2017

Acquisition of an organic farm in Eastern Europe

PHI Group has signed a letter of intent to acquire 100% of an organic farm in Easter Europe. This farm is active in cultivation of organic land and seed production, oil production, agricultural logistics services, and trading of cereals, seeds and agricultural inputs. 

Projected revenues for 2017 are approximately EUR 23.8 million with EBITDA of EUR 3.5 million. The closing of this transaction is subject to further due diligence, negotiations and financing.