PhosAgro buys remaining stake in Apatit

Thanks to the ongoing privatization, PhosAgro buys the state-owned stake in OAO Apatit.

PhosAgro, already the biggest shareholder of OAO Apatit, reports it offered the highest price to purchase remaining stake sold out by the Russian Government.

Moscow, Tuesday: the leading fertilizer producer reports that it offered RUB 11,110 mln (apprx EUR 273.4 mln), the highest price from any of the tender participants, in the tender for 26.67% stake of ordinary shares (20% of authorized capital) in OAO Apatit.

PhosAgro currently owns 57.57% of the voting shares in Apatit. In April 2012 the Federal Antimonopoly Service approved PhosAgro’s request for permission to obtain up to an additional 42.43% of the voting shares in Apatit, which together with the stake already owned by PhosAgro represents 100% of Apatit’s outstanding shares.

According to Kommersant, there were only two competitors for the tender: PhosAgro and Trust Bank. The latter one is unofficially believed to have acted in the interests of PhosAgro.

OAO Apatit is one of the biggest employers and tax-payers in the Murmansk region.