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Russia’s Acron boosts stake in Poland’s Grupa Azoty to 20%

June 11, 2014, 16:27 UTC+3 MOSCOW
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MOSCOW, June 11. /ITAR-TASS/. Russia’s fertilizer producer Acron has raised its stake in Poland’s Grupa Azoty, formerly known as Azoty Tarnow, to 20.00% from 15.34%, Acron said in a statement Wednesday.

No further details of the deal were provided.

In 2012, Acron bought 12.03% in Grupa Azoty for about 3.3 billion rubles, and later raised it to 13.78%. In 2013, Acron boosted the stake to 14.57%, and later to 15.34%. In 2013, Acron also said that it had planned to increase the stake to over 20% by buying shares on the market, but remained disappointed with their price at the time.

Grupa Azoty produces nitrogen and combined fertilizers, and engineering plastics. Poland owns 33% in the company.

Acron Group comprises its main unit Acron located in the Novgorod Region, the Dorogobuzh plant in the Smolensk Region, and the Chinese chemical company Hungi-Acron.

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