Neither the 41% we announced on 20 March nor the 50.54% of 25 March 2025 – in the end, Ukrainian company MHP acquires 91.77% of UVESA.
Ukrainian agri-food company MHP has announced the conclusion of the adhesion period to the Share Purchase Agreement (SPA) with the shareholders of Grupo Uvesa, headquartered in Tudela. Following this process, MHP will control 91.77% of the share capital. UVESA is the second largest broiler producer in Spain, behind only VALL COMPANYS and ahead of companies such as AVISERRANO, Grupo AN, Coren, etc.
This milestone follows the initial signing of the Share Purchase Agreement on 20 March 2025, when MHP reached agreements with shareholders representing 41% of the capital. Subsequently, the Ukrainian company secured additional agreements to acquire almost the entirety of the share capital. It should be recalled that MHP launched a Public Takeover Bid (OPA) in December 2024, which was approved by the Spanish Government in March.
MHP, which is listed on the London Stock Exchange, is an international food group with major production facilities in Ukraine and Eastern Europe, where it operates through its wholly owned subsidiary Perutnina Ptuj. MHP Ukraine exports up to 60% of its total poultry production to more than 70 countries worldwide. Its other operations include a cutting plant in the Netherlands, a joint venture in Saudi Arabia, and sales and distribution centres in the Middle East (UAE and Saudi Arabia), as well as in the United Kingdom and other European Union countries. In 2023 it achieved revenues in excess of €2.7 billion and employs 32,000 people worldwide.
According to a joint statement issued by MHP and Uvesa, this investment is considered a “key step” for MHP to strengthen its presence in the European poultry sector. The alliance with Uvesa “unlocks new potential for sustainable growth and greater access to new markets, both in Europe and the Middle East”.
The financial terms of the Share Purchase Agreement (SPA) remain unchanged: a fixed purchase price of €225 per share and a contingent consideration of up to €21.43 per share. The transaction will be settled in cash at closing, backed by a first-demand bank guarantee.
John Rich, Executive Chairman of MHP’s Board of Directors, has highlighted that this “important milestone paves the way for MHP to deepen its strategic alignment with Uvesa following the completion of the transaction”. Both companies seek to build an alliance that is “strong, innovation-driven, founded on shared values and committed to long-term employment security” for their teams.
For his part, Antonio Sánchez, Chairman of Uvesa, has stated that, together with MHP, they are entering a “new phase focused on building a strong and sustainable future”.
He underscored the ongoing commitment to quality, people and long-term impact, affirming that “Our people have always been, are, and will continue to be at the centre of everything we do”. The company remains true to its shared values, seeking to generate a positive impact on both employees and the communities in which it operates.
Completion of the transaction remains subject to previously disclosed conditions, including merger control clearances and approval under the European Commission’s Foreign Subsidies Regulation. Authorisation from the Spanish Government was already granted in March.
Terms and conditions:
- The share purchase agreement (SPA) maintains a fixed price of €225 per share, plus a potential variable consideration of up to €21.43.
- Final completion is still subject to clearance under the new European regulation on foreign subsidies.
- Payment will be made entirely in cash, backed by a first-demand bank guarantee.
Further reading:
-. News on UVESA
-. News on MHP
-. News on poultry companies at NeXusAvicultura.com