Ukraine port grain complex has new ownership

Terminal this week and appointed Carl Sturen as chief executive officer. The Swedish entrepreneur began investing in Ukraine in 1994 and has strong ties to Southern Ukraine. He is a co-founder and former owner of Chumak, a food processing company. “I am excited to take on this new opportunity,” Sturen said. “We have built an excellent team, and we have absolute confidence that we can transform the grain terminal formerly known as Olimpex into a transparent world-class facility. Ukraine has so much potential to attract investment, but it has to shake off the reputation that doing business in Ukraine is high risk due to fraud. Attempts to defraud US investors failed and those culpable are out of business.” The acquisition of the terminal follows the successful enforcement of mortgages granted to Madison Pacific as security trustee under loans that G.N. Terminal Enterprises (GNT) received from Argentem Creek Partners (ACP). The Ukrainian courts also have reversed several fraudulent ...