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PhosAgro OAO Launches Apatit OAO Minority Shareholders Squeeze Out


Wednesday, 17 Apr 2013 08:00pm EDT 

PhosAgro OAO announced that on April 17, 2013 it sent a compulsory share purchase notification (squeeze out) to Apatit OAO for the buyout of shares belonging to Apatit OAO minority shareholders. The shares will be purchased at the price of RUB 6,880 per ordinary share and RUB 5,504 per type A preferred share. PhosAgro OAO and affiliated parties currently own 95.95% of the shares of Apatit, meaning the estimated cost of the compulsory share buyout is approximately RUB 1.99 billion. PhosAgro OAO plans to complete all procedures related to the squeeze out and the consolidation of shares in Apatit OAO in the next 2-3 months. 

Company Quote

9.79
0.09 +0.93%
24 Dec 2014