Romania's Azomures confirms approaching takeover by Swiss Ameropa

28 November 2011 11:20  [Source: ICIS news]

LONDON (ICIS)--Swiss grain and fertilizer trader Ameropa Group has signed “several agreements” that will enable it to buy a majority shareholding in Azomures, Romania's largest fertilizer producer, according to a filing released by Azomures to the Bucharest stock exchange on Monday.

The acquisition would proceed once the approval of Romania's competition regulator was obtained, it added.

On 24 November, an Azomures source told ICIS News that privately-owned Ameropa had successfully concluded negotiations with a Turkish group of investors that control Azomures Holding and Eurofert, which together hold 75.9% of Azomures.

Ameropa is a grain trader in Romania through its cereal storage company.

Azomures has ammonium nitrate (AN) and calcium ammonium nitrate (CAN) units, both of which produce about 300,000 tonnes/year.

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