FAS okays Trust Bank to buy state Apatit stake
MOSCOW. July 31 (Interfax) - Russia's Federal Anti-Monopoly Service (FAS) has green-lighted OJSC National Bank Trust to purchase the Russian government-owned stake in fertilizer producer OJSC Apatit , the FAS said.
"The acquisition of the ordinary OJSC Apatit shares in federal possession is to be done in line with Russian law," the FAS said.
The FAS made its decision on July 9.
The regulator has also given the go-ahead for CJSC Renova Group of Companies to purchase the state-owned Apatit stake.
As reported, the tender to sell the 26% state Apatit stake was scheduled for June 14. OJSC PhosAgro, Acron , UralChem, Renova and Bank Trust were to vie for the stake. Back at the beginning of June, the FAS reported that the bank's application had been approved.
However, during the tender only UralChem submitted an application to purchase the stake, as a result of which the competition did not take place.
Later, the deadline to submit applications for the tender was extended to September 15. Head of the Economic Development Ministry's property relations department Alexei Uvarov explained the postponement with the reasoning that Acron did not secure permission from the government commission for foreign investments for the deal in time. Meanwhile, after settling its conflict with PhosAgro, Acron said that it would not compete for the Apatit stake.
