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Phosagro considers merger of units, giving up Indian market

8:32 AM MST | January 27, 2014 | Natasha Alperowicz

Phosagro (Moscow), a leading producer of phosphate fertilizers, is considering merger of its subsidiaries to save costs and improve shareholder value, CEO Andrey Guryev tells Bloomberg. The company may combine the phosphate ore producer Apatit and three other production units and merge with its parent. The move would cut costs through streamlining accounts and reducing headcount, he says.   Meanwhile, Guryev says that Phosagro is giving up on the Indian market, which, until recently, accounted for a quarter of the company’s exports. The decision...

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