Thursday, August 12, 2010

PhosAgro Proposes Merger With Silvinit to Russian Authorities

OAO PhosAgro, the world’s second-largest maker of phosphate fertilizer, has submitted a proposal to the Russian government for a merger with potash producer OAO Silvinit. PhosAgro has offered the government and state-run bank OAO Sberbank a stake in the combined company, as shareholders of Silvinit and PhosAgro discuss the merger. Reports of potential potash-industry mergers have increased since billionaire Suleiman Kerimov purchased OAO Uralkali, Russia’s second-largest potash producer.

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