Russian Acron says has no plans to up its stake in Polish Tarnow
APATITY, Russia, July 24 |
APATITY, Russia, July 24 (Reuters) - Russia's Acron , one of Europe's top-10 mineral fertiliser groups, has no plans to increase its stake in Polish No.1 rival Tarnow from current 13.2 percent, Acron co-owner Viatcheslav Kantor said on Tuesday.
"We are quite satisfied that we acquired a share in capital of one of Poland's largest companies... Such experiment is sufficient for us, we will not increase our stake further," Kantor told reporters nearby Apatity, a town in Russia's Arctic Murmansk region.
Acron wanted to buy state-controlled Tarnow, but Polish treasury ministry, which oversees state assets, blocked the takeover move by merging Tarnow with its local rival Pulawy .
"We would like to show to our Polish colleagues the benefits of the economic cooperation," Kantor said.
He added that Acron is exploring a possibility to sell part of its excess amount of apatite concentrate to Poland.
Tarnow shares were up 0.61 percent at 44.37 zlotys by 1200 GMT.
($1 = 3.4693 Polish zlotys) (Reporting by Andrey Kuzmin; Writing by Polina Devitt; Editing by Andrey Ostroukh)
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