Uralkali Silvinit, Russia’s leading potash companies complete merger
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Uralkali and Silvinit, Russia’s leading potash companies complete merger

1:19 PM, 18th June 2011
Uralkali and Silvinit, Russia’s leading potash companies complete merger

 

BEREZNIKI, RUSSIA: Uralkali and Silvinit announced the completion of their merger. The combined entity is one of the world’s leading potash companies, a leading global fertilizer producer and one of Russia’s leading mineral resource companies. The combined group owns an attractive portfolio of development opportunities, including existing brownfield and greenfield development projects, will enjoy a global sales reach and benefit from a cost structure that is amongst the lowest in the potash industry.

“We are delighted to announce completion of the merger, creating one of the leading global potash companies. Following the merger of two leading Russian potash businesses which have a natural strategic fit. Uralkali is now looking forward to realizing the opportunities in this highly dynamic industry,” said Vladislav Baumgertner, Chief Executive Officer, Uralkali.

The combination was effected through the acquisition by Uralkali of 1,565,151 Silvinit ordinary shares, representing approximately 20 per cent of Silvinit ordinary share capital and implementation of a statutory merger of Silvinit into Uralkali through the issuance of Uralkali ordinary shares for the remaining ordinary and preferred share capital of Silvinit.

On 24 and 25 February 2011 Uralkali secured the financing of the acquisition of the 20 per cent stake in Silvinit’s ordinary share capital, which was subsequently completed on 28 February 2011. The Combination was approved by competition authorities in Russia, Ukraine, China, Brazil and Poland.

© WOC News

 

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