Acron Confirms It Bought 12.03% of Azoty Tarnow for $102 Million

Acron Group said it bought 12.03 percent of Azoty Tarnow, Poland’s largest chemicals maker.

Acron paid 347 million zloty ($102 million) for the stake, the Velikiy Novgorod-based company said in a statement today.

Acron in May announced a bid for 66 percent of Azoty, in which Poland’s government holds 32 percent. Poland won’t sell to Acron, Deputy Treasury Minister Pawel Tamborski said June 14.

PAP newswire reported the stake purchase earlier.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

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