American investment firms Argentem Creek Partners and Innovatus Capital Partners have taken control of the grain terminal "Olimpux" in the port of Odessa after a lengthy legal dispute with previous owners suspected of fraud.

This was reported by the Financial Times.

The American funds have already won an international arbitration ruling of $150 million and several decisions from British courts, with the final ruling issued by the Supreme Court of Ukraine last week.

The Olimpux terminal has an annual capacity of approximately 5 million tons and is among 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, Sergiy Groza and Volodymyr Naumenko from GNT Group, were suspected of fraud against an American investor.

The investigation believes they faked the destruction of grain after the Russian invasion to avoid repaying a loan.

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.