Bloomberg News

Acron Buys Back $105 Million of Bonds Tendered in Reorganization

July 06, 2012

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.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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