OAO Acron, a Russian fertilizer maker, said it completed a merger with its subsidiary ZAO Granit which held treasury shares in the company, according to an e- mailed statement.
The reorganization reduced the number of Acron’s outstanding shares to 40.5 million from 47.7 million, it said in the statement. Billionaire owner Viatcheslav Kantor’s stake in Acron rose to 84.6 percent as a result, the company’s press office said in response to a query.
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