2 Dec 2013 15:37

Acron reduces stake in Uralkali to 1.77%, nets $170 mln

MOSCOW. Dec 2 (Interfax) - Acron has reduced its stake in Uralkali to 1.77% from 2.88%, Acron said in a statement.

It received 5.5 billion rubles (about $170 million) for the shares.

It sold the shares at an average price of 170.1 rubles each. Acron did not specify when it sold the shares.

Acron acquired the Uralkali shares in the latter's merger with Silvinit. At the beginning of the year Acron, said it planned to divest the stake in 2013-2014. It will allocate the sale proceeds to the investment program, dividend payments and for other general corporate purposes.