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Phosagro Seeks Acquisitions, May Bid for Sibur's Fertilizer Business

6:01 AM MST | January 28, 2011 | Ian Young

Phosagro (Saint Petersburg), Russia's biggest producer of phosphate fertilizers, is seeking to borrow $500 million for acquisitions, according to press reports quoting Phosagro CEO Maxim Volkov. The company could be planning to make a bid for Sibur's (Moscow) fertilizer business, which Sibur is planning to divest. Phosagro and Sibur are in discussions and have agreed on the broad terms of a deal, Russian press reports say. Phosagro's debt financing is being organized by UniCredit (Moscow), reports add. The Russian government is eager to promote consolidation in...

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