Ukraine agribusiness co-owned by RenCap hires CFO

By Andrei Skvarsky.

Ukrainian Agrarian Investments (UAI), a major Ukrainian farming business co-founded and co-owned by Russia’s Renaissance Capital, has hired Alexandre Joseph from French agricultural company AgroGeneration as chief financial officer.

A statement from RenCap, which is currently selling out to billionaire Mikhail Prokhorov’s Onexim Group. credits Joseph, who will be based in Kyiv, with a significant role in a successful 2010 initial public offering of shares (IPO) for AgroGeneration, which has business interests in Ukraine and Argentina.

Joseph also helped to organise a 2011 public offering, bond issuance and numerous debt raisings for the Paris-based firm through major banks active in Ukraine. Before joining AgroGeneration in 2007, Joseph “co-founded a diverse range of businesses from wholesale trade to online advertising services”, RenCap said.

UAI last year reported a net income of $47.8m, recording a year-over-year increase of 82.8%.

The European Bank for Reconstruction and Development opened a working capital credit line of $20m for the Kyiv-headquartered company in 2010, later boosting the loan to $40m.

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