“Phosagro” became the owner of 95% of “Apatite”
2013-01-30 15:19:30
In January of this year, fertilizer producer "Phosagro" increased its stake in "Apatite" from 85% to 95.9%. The sale of 11% by the former owners brought the company to purchase of all the shares of the apatite concentrate manufacturer, used in the development of complex fertilizers.
According to the press-service of "Phosagro" the deal cost 5.903 billion rubles.
“In 2013 “PhosAgro” will maintain its current production growth rates and financial performance. The fact that demand for fertilizers will rise after the rather unsuccessful previous year, in terms of yields, will contribute to that, and have a positive effect on prices,” said Andrey Schenk, analyst of Investcafe.