American investment firms Argentem Creek Partners and Innovatus Capital Partners have gained control of the grain terminal "OlimpEx" located in the port of Odessa after a prolonged legal battle with previous owners who are suspected of fraud.

This is reported by Financial Times.

The American funds have already won international arbitration worth $150 million and several rulings from British courts, with the final decision made by the Supreme Court of Ukraine last week.

The "OlimpEx" 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, Serhiy Groza and Volodymyr Naumenko from GNT Group, were suspected of fraud for deceiving the American investor.

Investigators believe they simulated the destruction of grain following the Russian invasion to evade loan repayment.

GNT Group denies the accusations, claiming that Argentem Creek used loans for a hostile takeover of the business.

The American funds plan to restore the terminal's operations soon.