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With the sale of Perm Mineral Fertilizers to UralChem, Sibur has completely withdrawn from the company's non-core business in producing mineral fertilizers.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 firstname.lastname@example.org)
November 22, 2014
Russian Foreign Ministry regrets Ukraine, U.S., Canada voted against resolution on combating glorification of Nazism at UN
Crew of next expedition to ISS approved
Memorial NGO adopts new charter, to notify Justice Ministry
Committee of Civil Initiatives does not cooperate with Open Russia so far
Baku denies Armenia's reports on retrieving bodies of helicopter crewmembers from crash site
Moscow favors speedy conference on formation of zone free of WMD in Middle East (Part 2)
Moscow favors speedy conference on formation of zone free of WMD in Middle East
U.S.', allies' military measures in Korean Peninsula area disproportionate to threat - Russian diplomat (Part 2)
Moscow sees nothing wrong in NPT reviewing conference ending without final document
Russia doesn't view N. Korea's nuclear missile program as direct security threat - diplomat (Part 2)
Kudrin: Russia's fate depends on economic power, not on weapons
Russia sells weapons only to official Iraqi authorities - diplomat
Russia to invite OSCE to address condition of Christians in Mideast - Lavrov