Ukraine: Deteriorating Business Climate Euro Chem Withdraws from Ukrainian Fertilizer Business
Fertilizer company Euro Chem announced the sale of its Ukraine subsidiary. In a statement, the group mentions recent actions in Ukraine to restrict foreign suppliers of fertilizers, and expectations of a further deterioration of the business climate as the reasons for their decision.
Zug/Switzerland — The sale, made to a company connected to the subsidiary’s former management, marks the withdrawal of Euro Chem from Ukraine, after more than 15 years of operations. The company did not disclose price and terms of the deal. In the statement, the Group expressed its gratitude to its clients and employees, adding that it intends to continue consultations with the Ukrainian authorities on future opportunities through its European operations, while focusing on other growth markets.