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.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Jacobs bags CMPC’s chlorine dioxide plant contract in Brazil

PASADENA, US: Jacobs Engineering Group Inc was awarded a contract by CMPC Group’s Celulose Riograndense Ltda for the design and supply of an int ...

Read more
Proteins in insect wings finds use in medicine

WASHINGTON DC, US: The remarkable, rubber-like protein that enables dragonflies, grasshoppers and other insects to flap their wings, jump and chirp ha ...

Read more
Genomatica appoints Just Jansz to board of directors

SAN DIEGO, US: Genomatica announced the addition of Just Jansz to its Board of Directors. Jansz will provide uniquely well-grounded insights as Genoma ...

Read more
Syngenta takes legal action on EU’s decision of thiamethoxam ban

BASEL, SWITZERLAND: Syngenta has submitted a legal challenge to the European Commission’s decision to suspend the use of thiamethoxam on bee att ...

Read more
Actelion appoints new CFO, Andre Muller

BASEL, SWITZERLAND: Actelion Ltd has appointed Andre C Muller as the company’s Chief Financial Officer and member of Executive Committee. He suc ...

Read more
Gevo opens bio based paraxylene plant in Texas, US

ENGLEWOOD, US: Gevo Inc, the world’s only commercial producer of bio-isobutanol, opened a demonstration-scale paraxylene plant in Silsbee, Texas ...

Read more