PhosAgro Completes OJSC 100 pc Shares Acquisition

PhosAgro completes the acquisition of OJSC Apatit

5:17 AM, 28th August 2013
PhosAgro Business Acquisition News

MOSCOW, RUSSIA: PhosAgro, a leading global vertically integrated phosphate-based fertilizer producer, has consolidated 100 per cent of OJSC Apatit shares. PhosAgro has now completed all procedures related to the squeeze-out, which was launched on 17 April 2013, at a total cost of RUB 1.99 billion ($60.08 million).

In addition to the squeeze-out, PhosAgro purchased 76 per cent of Nordic Rus Holding, which owns 7.4 per cent of Apatit (617,430 ordinary shares), for $141.92 million, which is equivalent to the price offered under the squeeze-out plus the value of other assets held by Nordic Rus Holding (over $50 million). PhosAgro had earlier purchased 24 per cent of Nordic Rus Holding in 2012.

“The consolidation of our core mining asset is an important step towards achieving PhosAgro’s strategy of organic growth. It should make our Company more attractive to investors and support shareholder value, as well as increase profits and dividend payments attributable to the shareholders of PhosAgro,” said Andrey A. Guryev, CEO, PhosAgro.

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