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Acron asks Putin to stop potash merger: report
February 18, 2011 / 6:17 AM / 7 years ago

Acron asks Putin to stop potash merger: report

MOSCOW (Reuters) - Russian fertilizer producer, Acron (AKRN.MM), is asking Prime Minister Vladimir Putin, the country’s most influential politician, to block a merger between two potash producers, business daily Vedomosti wrote on Friday.

Acron has unsuccessfully challenged the deal between potash companies Silvinit SILV.MM and Uralkali URKAq.L in court.

A merger of Silvinit and Uralkali to create a Russian potash mining giant was engineered by billionaire tycoon Suleiman Kerimov, who bought controlling stakes in both companies alongside associates last summer.

Potash, a key ingredient in fertilizer, has emerged as a valuable commodity in a world struggling to feed a growing population while battling droughts and floods.

Vedomosti said Acron’s president, Ivan Antonov, sent Putin a letter where it asks him to stop the deal. It also applied to the anti-monopoly watchdog in an attempt to block the merger.

Reporting by Vladimir Soldatkin; Editing by Jon Loades-Carter

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