04 April 2011 13:18 [Source: ICIS news]
The deal was approved by shareholders in February but was halted by a temporary court injunction when Russian fertilizer producer Acron lodged a formal complaint earlier this year.
In the statement, Uralkali said it had satisfied all the conditions set by the FAS to ensure the merger does not hamper domestic competition.
The conditions include regulation of its sales, consistent pricing practices and maintenance of a government-approved corporate code of conduct. The merger’s completion is now expected by the end of the second quarter of 2011, Uralkali said.
In a statement released on 1 April, Uralkali’s CEO said the merger and proposed expansion initiatives between Uralkali and Silvinit would boost the company’s production capacity to 13m tonnes by 2012.
The increased capacity has the potential to rival that of Belarusian Potash Co and Canada-based PotashCorp.
Russia and Belarus hold 30% of global potash production capacity.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|