16 June 2011 17:36 [Source: ICIS news]
The transaction, which is expected to create the world's leading potash producer, was previously due to be completed in May.
Uralkali and Silvinit shareholders first indicated plans to merge in December 2010. The Russian Federal Anti-Monoply Service (FAS) approved the merger but this was conditional on the new entity accepting direct government regulation of domestic potash prices.
Uralkali and Silvinit are based at
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.
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