Acron to sell one third of packet in Uralkali by year's end
APATITY. July 26 (Interfax) - Acron plans to sell one third of its stake in OJSC Uralkali by the end of this year, Acron's first vice president, Alexander Popov, said at a meeting with investors.
Acron plans to sell a third of this packet every year, starting from this year.
Popov added that a portion of the packet in Uralkali will be sold in the third and forth quarter of this year.
He said that the funds received form the sale of shares in Uralkali will go to financing the investment program, paying off a portion of loans and transferring dividends.
He also said that Acron plans to redeem its first bond issue at an earlier term in September. This issue was placed in 2009 since the interest rate was quite high at 14%.
Acron owns 2.7% of the shares in Uralkali following its merger with Silvinit.