Moscow – PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that it has decided to reorganise two of its subsidiaries by consolidating CJSC Biotechnology into CJSC Agro-Cherepovets.
The merger is part of PhosAgro’s programme aimed at optimisation of the Group’s subsidiaries structure.
PhosAgro owns 100% of CJSC Biotechnology and 100% of CJSC Agro-Cherepovets. The Company’s stake will not change after the reorganisation.