Arkady Rotenberg buys Rossosh-based Mineral Fertilizers
MOSCOW. Aug 3 (Interfax) - Outfits associated with Russian entrepreneur Arkady Rotenberg have completed the acquisition of Rossosh-based Mineral Fertilizers (Voronezh Region), Rotenberg's press service reported.
"Entrepreneur Arkady Rotenberg's structures offered more advantageous conditions in the deal for the acquisition of Mineral Fertilizers than other contenders, among whom were owner of Group DF Dmitry Firtash and EuroChem," the statement says.
According to Rotenberg, the buy mainly reflected a diversification of investments - funds from the sale of a stake in Novorossiysk Commercial Sea Port (NCSP) will be used in his new business. He also said that future plans involve development in this area.
"We are going to develop Mineral Fertilizers and put substantial funds into the company. Among the plans is our involvement in a tender for the purchase in Ukraine of OJSC Odessa Port Plant, which underscores the seriousness of our intentions to develop this direction of business," the statement quotes him as saying.
The value of the transaction has yet to be released. However, Yara earlier said that the sale of its 30% in the plant would come to $390 million. This puts the value of the entire company at $1.3 billion.
Russian companies EuroChem and Acron were ready to pay the same amount for the plant. Firtash earlier said that he was ready to pay $1.4 billion for the asset.
Rossosh Mineral Fertilizers is the sole producer of this commodity in Russia's Central-Chernozemnoi region. The plant's capacity for producing ammonia comes to 1 million tonnes, ammonia nitrate - 500,000 tonnes and complex fertilizers - 1 million tonnes. The plant produced 1.056 million tonnes of ammonia, 525,300 tonnes of ammonia nitrate, 1.1 million tonnes of compound NPK fertilizers and 712,000 tonnes of nitric acid.
According to unofficial reports, the main owners in Rossosh-based Mineral Fertilizers were Voronezh Senator Nikolai Olshansky and his partner Alexander Rovt.