Uralkali has no plans to acquire assets or hold in SPO in next 2 yrs
BEREZNIKI. March 18 (Interfax) - OJSC Uralkali will not acquire new assets in the next year or two following its merger with Silvinit, the company's general director, Vladislav Baumgertner, said on Friday.
"We have no plans at present for acquiring assets," he said.
Baumgertner added that "theoretically, nothing can ever be ruled out but, at present, this is not a priority for us." "There are not many opportunities in the sector, they are all visible. But there isn't any activity there. It is very unlikely that the company will do anything in the next year or two in terms of M&A," he said.
He added that the company currently does not need to place bonds or shares. "Prior the start of the main phase of greenfield projects, the company is able to financing its investment program and pay serious dividends. Therefore, there is no pressing need [for funds]," Baumgertner said.
Commenting on the possibilities of an SPO, Baumgertner said: "if the need arises it is only in terms of supporting the necessary liquidity of shares on the market. Therefore, this definitely won't be in the next year." "What is to be done in 2012 will be decided later," he added.
He added that Uralkali's dividend policy will not change following the merger with Silvinit.