December 23, 2011 10:51
SIBUR signs agreement with UralChem to sell stake in Perm Mineral Fertilizers
MOSCOW. Dec 23 (Interfax) - Russian petrochemicals company Sibur and fertilizer producer UralChem Holding have signed an agreement for the sale of a 51.22% stake in OJSC Perm Mineral Fertilizers, the companies said in a joint press release.
The two companies' boards of directors approved the deal at their meetings on December 22.
On December 21, UralChem expressed its interest in purchasing a controlling stake in Perm Mineral Fertilizers. It estimated the enterprise at roughly $550 million but was ready to raise the price of its offer by 5%-10%.
The sides did not disclose the cost of the deal. However, a market source told Interfax that the deal will be completed based on a higher estimate.
At present, Sibur owns 3.15% of shares and options to acquire a 48.07% stake in Perm Mineral Fertilizers. UralChem owns 46.47% of shares.
On Wednesday, CJSC Siberian Business Union (SDS) bought Kemerovo Azot (RTS: AZKM), the Angarsk Nitrogen Fertilizer Plant and LLC Biysk Railcar Repair Enterprise from Sibur Mineral Fertilizers. A source familiar with the details of the deal said that the transaction cost $1 billion.
With the sale of Perm Mineral Fertilizers to UralChem, Sibur has completely withdrawn from the company's non-core business in producing mineral fertilizers.
(Our editorial staff can be reached at email@example.com)
December 22, 2014
Russian military officers helping monitor east Ukraine truce
Russia-donated mobile hospital launched in Ebola-stricken Guinea
Snowden well-settled in Moscow, has job, new friends - lawyer
DPR to lift curfew on New Year night
Kazakhstan, Ukraine could return to $4 bln trade - Nazarbayev
PACE rapporteur on Russia slams anti-Crimean sanctions
Belarus does not allow Russia-bound transit of electronics - official
2018 FIFA World Cup chance to prove Russia not racist - Champagne
OSCE should help launch Kyiv's dialogue with Donetsk, Luhansk - Duma speaker
Trust Bank capital shortfall measured in tens of billions of rubles - Central Bank
Trust Bank unable to cope with outflow of deposits last week - Sukhov
Lawmakers propose hiring Italian prosecutor as head of Ukraine anti-corruption agency
Main indexes of the Russia stock market for December 22
Germany‘s E.ON is spinning its Russian business off to a "New Company" which will be transferred to the company‘s shareholders, with plans to list it in 2016. Apart from the Russia business, the new company will receive all of E.ON‘s conventional energy assets. E.ON itself will focus on renewable energy and innovation. Johannes Teyssen, E.ON‘s CEO, told Interfax in an interview of the logic behind the decision and its implications for the concern‘s Russian subsidiary OJSC E.ON Russia.
Australian Ambassador to Russia Paul Myler has given an interview to Interfax ahead of the G20 summit in Brisbane in which he speaks about the MH17 crash, the reasons for joining the West‘s sanctions against Russia and explained why Australia expects changes in Russia‘s food policy by March 2015.
The name Arkady Rotenberg has been in the news far more frequently than usual in recent months. The billionaire was hit by the first wave of European Union sanctions against Russia, and has already challenged this decision in court. Recently it was reported that the businessman has sold part of his assets to his eldest son. Arkady Rotenberg spoke in an interview with Interfax about whether there was a link between these two developments, the impact of sanctions on his business, his friendship with President Vladimir Putin and many other topics.