Moscow – PJSC PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that it has reduced its stake in Phosint Limited as a result of the issue of additional shares to Negrinio Limited, which was established by the management of the company’s trading structures.
The acquisition by Negrinio Limited of a 95% stake in Phosint Limited and the corresponding reduction in PhosAgro’s stake in Phosint Limited to 5% was the result of a management buyout of Phosint Limited by its trading structures.
Amid the growing number of restrictive measures in several countries, changes in Phosint Limited’s ownership structure will help ensure the uninterrupted supply of PhosAgro’s products to international trading companies.
Despite the high degree of volatility and uncertainty in markets, PhosAgro remains focused on continuing its stable operations and is committed to doing its utmost to meet its obligations in a suitable manner.