21 September 2012 16:05 [Source: ICIS news]
LONDON (ICIS)--Russian potash fertilizer producer Uralkali has signed settlement agreements to exit the ?xml:namespace>
The agreements were signed with direct and indirect plaintiffs for $10m (€7.7m) and $2.75m, respectively, and will come into effect after final approval of the
In September 2008, potash consumers in the
The buyers alleged price fixing violations against Uralkali, its marketing arm BPC and Silvinit, which was acquired by Uralkali in 2010. Belaruskali, Potash Corporation of Saskatchewan (PotashCorp), Mosaic and Agrium were the other potash producers named in the antitrust suit.
The plaintiffs had alleged that the seven companies controlled the world’s potash market during 2003-2008, and co-ordinated cuts in production to ensure an increase in potash prices.
Under the settlement agreements, Uralkali, Silvinit, BPC and the company’s trading subsidiaries, IPC and Uralkali Trading SA, would be released from any liability in connection with the plaintiffs' claims.
($1 = €0.77)
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