Swiss Ameropa acquires 20.5% stake in Azomures for €53.7m

26 June 2012 11:31  [Source: ICIS news]

SigningBUCHAREST (ICIS)--Swiss grain and fertilizer trader Ameropa Holding has acquired a further 20.53% stake in Romania's largest fertilizer producer Azomures for New Lei 240.1 m (€53.7m, $67.3m), the company said on Tuesday.

The company is now able to delist Azomures from the Bucharest Stock Exchange as it owns 96.42% in the fertilizer producer, it said.

A takeover offer for a 24.1% stake in Azomures took place between 5-25 June, at a price of New Lei 2.22/share.

Ameropa Holding, through its subsidiary Pelican Fertilizers, acquired 75.9% of Azomures in March from a Turkish group of investors. 

In May, citing the costs of required refurbishment investments, Azomures estimated that its annual net profit would fall sharply this year to New Lei 143.7m, compared with the New Lei 346m it recorded in 2011.

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

It also produces urea, complex nitrogen phosphorous potassium (NPK) fertilizers and melamine.

($1 = New Lei 3.57, €1 = New Lei 4.47)


By: Marian Chiriac
+44 20 8652 3214



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