# Kernel says four minority shareholders challenge Luxembourg regulator's 19.93 zloty sell-out price

> Four Kernel minority shareholders are challenging Luxembourg's 19.93 zloty sell-out price, with a court hearing on suspension set for October 26.

- Published: 2026-10-20T06:15:07+00:00
- Section: Legal & Disputes
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-20/kernel-minority-shareholders-challenge-sell-out-price
- Source: [The future of trading](https://capital.com/en-int/news/kernel-holding-says-minority-shareholders-challenge-luxembourg-regulator-s-decision-on)

## Key takeaways

- Four minority shareholders challenged the CSSF decision setting a mandatory sell-out price of 19.93 zlotys per share.
- A Luxembourg court hearing on suspension of the CSSF decision is scheduled for October 26.
- Final settlement of the sell-out is expected on January 4, 2027, unless the proceeding is suspended.

[Kernel](https://akta.pro/company-profiles/0005aik/kernel) Holding said on Monday that four minority shareholders challenged the Luxembourg regulator CSSF's decision setting a mandatory sell-out price of 19.93 zlotys per share, [The future of trading](https://capital.com/en-int/news/kernel-holding-says-minority-shareholders-challenge-luxembourg-regulator-s-decision-on) reported. The applications seek annulment and suspension of the CSSF decision.

## Kernel's Challenge to the CSSF Sell-Out Decision

The company said the applications seek annulment and suspension of the CSSF decision on the mandatory sell-out price. A suspension, if granted, may affect the timetable and financial terms of the sell-out, according to the company.

Kernel said no claims were made against the company or majority shareholder Namsen in the court cases. A Luxembourg court hearing on suspension of the CSSF decision is scheduled for October 26.

The mandatory sell-out proceeding continues unless suspended, with final settlement expected on January 4, 2027, the company said.

Kernel is a Ukrainian grains and sunflower oil producer, according to [company records](https://akta.pro/company-data). The company was founded in 1995 and is headquartered in Kyiv, with Andrii Verevskyi as chairman of the board of directors and Yevgen Osypov as chief executive officer.

## Kernel's Funding and Land Position

Kernel's funding records show four rounds, including a post-IPO debt of $116.7 million in August 2026 led by the Export and Investment Fund, a post-IPO debt of $45 million in April 2026 led by the European Bank for Reconstruction and Development, a post-IPO debt of $77 million in December 2025 led by Oschadbank, and a post-IPO debt of $150 million in October 2024 with three investors, according to akta.pro company records.

The same records list fiscal year 2024-2025 revenue of $4.1 billion, up 15% year over year, and net profit of $238 million, up 42% year over year. Kernel cultivates 530,000 hectares of agricultural land in Ukraine.

## Kernel's Recent Grain and Energy Moves

Kernel reported fiscal 2026 revenue of $4.4 billion, up 7% year on year, and EBITDA of $558 million, up 20%, World-grain reported in October 2026. Crop production rose 43% to 2.3 million tonnes, while oilseed processing fell 8% due to a record-low sunflower harvest.

In September 2026, Kernel and the EBRD signed a €1 million grant to train technical specialists and modernize production infrastructure, Inventure reported. Kernel also signed a €100 million loan with EIFO to build its first wind power plant in central Ukraine, a 94.5 MW facility using 21 Vestas turbines and battery storage, Kyiv Post reported.

## What Comes Next for the Sell-Out

The Luxembourg court hearing on suspension is scheduled for October 26. Final settlement of the sell-out is expected on January 4, 2027, unless the proceeding is suspended.

## Companies in this story

- [Kernel company profile](https://akta.pro/company-profiles/0005aik/kernel) · website: http://www.kernel.ua

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