Dragon Capital in its recently distributed Equity Research “M&A in Poland Completed Ahead of Schedule” reconfirmed “Buy” recommendation and set a 12-month target price of PLN 25.95 (USD 7.79) per Milkiland N.V. share (42% upside).

Milkiland acquired Mazowiecka Spoldzielnia Mleczarska “Ostrowia”, a cheese production plant located in Ostrów Mazowiecka of Masovian Voivodeship, Republic of Poland.

Mena cheese plant resumed an export of its produce to Russian Federation after obtainment of the respective permissions from Rospotrebnadzor.

Milkiland Group expresses its gratitude to the Government authorities of Ukraine, first of all, Ministry of economic development and trade of Ukraine, Ministry of agrarian policy and food of Ukraine, State veterinary and phytosanitary Service for putting a significant  efforts to resumption of the export of Ukrainian cheese to the market of Russian Federation.

During a meeting of Minister of economic development and trade of Ukraine Petro Poroshenko and Head of Russian Federal Service on Customers’ Rights Protection and Human Well-Being Surveillance (Rospotrebnadzor) Gennadiy Onishchenko in Moscow on 17 April 2012, the parties agreed to lift the temporary limitations of export to Russia of cheese, produces by Mena cheese plant, Gadyach and Pyryatin cheese plants. All of those enterprises have recently passed the Rospotrebnadzor’s inspections.