Akron, Uralchem to Bid for Apatit 20% stake

Russia’s leading mineral fertilizer producers Akron and Uralchem have filed bids for a 20 percent state stake in apatite concentrate maker Apatit, the Federal Anti-Monopoly Service told Prime news agency on Saturday.

“The bids have been filed by Akron and Uralchem,” the watchdog’s spokeswoman said, adding they would be examined within the statutory term of one month.

Previously, the watchdog approved a request from Russian fertilizer holding company PhosAgro, which currently owns more than 57.57 percent of the voting shares of Apatit, to allow it to acquire the remaining additional 42.43 percent of the voting shares in the company.

BNP Paribas, which has been mandated by the government to arrange the sale of the government’s 20 percent stake in Apatit, initially assessed it at 10.5 billion rubles ($350 million).

The bank will accept bids through May 17.

Apatit produces 75 percent of apatite concentrate production in Russia.


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