Acron acquire 66 per cent stake in Azoty Tarnow proposes $10.58 share foracquisition

Acron to acquire 66 per cent stake in Azoty Tarnow

4:27 AM, 17th May 2012
Acron to acquire 66 per cent stake in Azoty Tarnow

MOSCOW, RUSSIA: Russian fertiliser maker Acron has proposed to buy up to 66 per cent of major Polish chemical firm Azoty Tarnow for 36 Polish zloty ($10.58) a share to expand its presence in the European Union. The offer runs from June 6 through June 22. The company plans to grow Azoty Tarnow’s business and use it as a base for operations within the EU, while also increasing its global sales network.

“We are convinced that Azoty Tarnow’s potential, in alignment with our global experience, major resource base and wide logistics network, will allow the companies to be competitive and will bring considerable benefits for their employees and shareholders,” said Vladimir Kantor, Vice President, Acron.

© Reuters News

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