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Antitrust body clears Swiss Ameropas takeover of Romanian fertilizer plant

March 23/2012
(blackseagrain) -- Swiss grain trader Ameropa is close to wrap up the takeover of Romanian fertilizers producer Azomures after Romania's antitrust body has cleared the deal.

Thus, Ameropa would also indirectly take control over Constanta-based port operator Chimpex Constanta - a valuable asset for any grain trader. Ameropa is to acquire 75.8% of Azomures after taking full control over its Turkish shareholders Eurofert Investments and Azomures Holdings for an unspecified sum. The terms of the deals were not disclosed.

The new majority owner will be obliged by the law to launch a buyout bid for the remaining shares in Romania's Azomures. The book value of the company's own funds stands at EUR 251mn, 16% above the latest market value of the company, the daily notes. Assuming the buyout bid takes place at this price implied by the company's book value, Ameropa would have to pay EUR 60mn, out of which EUR 26.7mn to Property Fund that holds 10.7% in Azomures.


mrcplast.com
Author:Anna Larionova
Tags:No
Category:General News
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