New Ownership of the Port Terminal in Odessa
American investment firms, Argentem Creek Partners and Innovatus Capital Partners, have gained control of the grain terminal "Olympex" in Odessa port following extensive legal battles with previous owners suspected of fraudulent activities.
This was reported by the Financial Times.
The American funds have won international arbitration worth $150 million and several rulings from British courts, with the final decision rendered by the Supreme Court of Ukraine last week.
The "Olympex" terminal has an annual capacity of about 5 million tons and is one of the largest in Ukraine.
John Patton, a partner at Argentem Creek, stated that the terminal was a key hub for "black grain" in Odessa.
At the end of June, the previous owners, Sergey Groza and Vladimir Naumenko from GNT Group, faced allegations of fraud regarding an American investor.
Investigators believe they faked the destruction of grain after the Russian invasion to avoid repaying a loan.
GNT Group denies the accusations, claiming that Argentem Creek used loans for hostile takeover attempts.
The American funds intend to resume operations at the terminal soon.
