November 29, 2011
Ameropa to acquire huge stake in Romania's Azomures
Swiss grain and fertiliser trader Ameropa has signed a deal to purchase an indirect controlling stake in Azomures, the Romanian fertiliser firm said Monday (Nov 28).
Eurofert and Azomures Holdings, which hold a combined stake of 75.88% in the company, signed on November 25 several agreements with Ameropa regarding the acquisition of an indirect majority stake in Azomures, the company said.
The transaction is pending approval by the Romanian competition council, Azomures said.
"The news about this transaction had been floating around for several days, but the price was not disclosed, therefore we view this piece of news as neutral," Raiffeisen Capital & Investment Research said.
Earlier this month, it was reported that Ameropa may pay between EUR100 million (US$133.5 million) and EUR275 million (US$367.2 million) for the majority stake in Azomures.
Blue chip Azomures was trading up 3.10% at 1.33 lei (US$0.4/EUR0.3) by 1419 GMT on Monday.