American investment firms Argentem Creek Partners and Innovatus Capital Partners have gained control over the "Olympex" grain terminal in the Port of Odessa after a prolonged legal battle with previous owners suspected of fraud.

This is reported by the Financial Times.

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

The "Olympex" terminal has an annual capacity of around 5 million tons, making it 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 former owners, Sergey Groza and Volodymyr Naumenko from GNT Group, were suspected of fraud for deceiving the American investor.

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

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

The American funds plan to restore the terminal's operations in the near future.