Bloomberg News

Acron Agrees Phosphate Price With Phosagro, Won’t Bid for Apatit

July 20, 2012

OAO Acron, a Russian fertilizer maker, agreed on terms of buying phosphates this year from OAO Phosagro in an out-of-court settlement, the companies said in a joint e-mailed statement, without disclosing the price.

Separately, Acron said it declined to bid for the government’s 20 percent stake in OAO Apatit, a Phosagro unit that produces phosphates. Apatit also agreed to buy phosphate ore from Acron’s Oleniy Ruchey deposit, which is set to start mining this year.

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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