OAO Acron, a Russian fertilizer maker, said it bought back bonds with a nominal value of 3.41 billion rubles ($105 million) tendered by bondholders in a company reorganization, a statement today shows.
Acron shareholders in February approved a takeover of its Granit unit, which led to the cancellation of about 15 percent of Acron’s treasury shares. That triggered a put option, giving holders of about 10 billion rubles of Acron’s bonds the right to sell them back to the company.
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