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Russia's Renova Orgsyntes In Talks For Purchase Of Azot Cherkassy?

Russia's Renova Orgsyntes In Talks For Purchase Of Azot Cherkassy?

22 March 2008

According to media reports, Russia’s Renova Orgysntes, part of Russian oligarch Victor Vekselberg’s Renova Group, is in talks with UkrSibbank for the purchase of a 60% stake in Azot Cherkassy. According to the Ukrainian daily Kommersant, the deal will mainly depend on whether nitrogen fertilizer producers receive subsides for natural gas from the government, if not, the paper says UkrSibbank is likely go forward with the deal.  In related news, at their EGM on March 19, shareholders in another Ukrainian nitrogen fertilizer producer, Dniproazot (DNAZ: SELL), voted to sell the company in parts or as a whole.

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