PhosAgro Considers Merging Two Subsidiaries

PhosAgro (Moscow), a leading producer of phosphate fertilizers, says it is considering plans to merge its Ammophos and Cherepovetsky Azot subsidiaries. Both subsidiaries are based at Cherepovets, Russia. The planned transaction would create a new company, in which Ammophos and Cherepovetsky Azot shareholders would receive shares. These two companies would cease to exist as legal entities. The reorganization would be effective in summer 2012, subject to shareholder approval. Merging the subsidiaries would result in substantial reductions in administrative and...

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