Moscow – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that it participated in the tender for the sale of the Russian Federation’s 26.67% stake of ordinary shares (19.99% of authorised capital) in OJSC Apatit.
The offer made by PhosAgro for theRussian Federation’s stake in Apatit may only be disclosed by the Company after receipt of approval to do so from the tender organisers. The results of the tender will be determined by the Russian Federation Government and will be disclosed at a later time.
PhosAgro currently owns 57.57% of the voting shares in Apatit. In April 2012 the Federal Antimonopoly Service approved PhosAgro’s request for permission to obtain up to an additional 42.43% of the voting shares in Apatit, which together with the stake already owned by PhosAgro represents 100% of Apatit’s outstanding shares.