PhosAgro wins bid to acquire Apatit, Russia's strategic phosphate rock asset

PhosAgro (Moscow), a leading integrated phosphate fertilizer producer, has won a tender to acquire the Russian government’s 26.67% stake in OJSC Apatit (Murmansk, Russia), the country’s most important phosphate rock producer. PhosAgro paid ruble11.1 billion ($360 million) for the government’s stake, which raises PhosAgro’s total holding in Apatit to more than 76%. The remaining shareholding in Apatit is split among individuals and legal entities, including Nordic Rus Holding, which has 10.3% in Apatit. Nodic Rus Holding is 51% controlled...

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