VEB wants to sell 20% in Verkhnekamsk Potash Company

MOSCOW, Apr 10 (PRIME) -- Russian state development banks Vnesheconombank (VEB) has put its 20% minus one share in Verkhnekamsk Potash Company for an auction with an initial price of 10.6 billion rubles, as seen by PRIME late on April 7 in VEB materials.

The bid step is set at 10 million rubles. Bids will be collected until May 11, participants will be chosen on May 18, and the results of the auction will be summarized on May 22.

Verkhnekamsk Potash Company develops the Verkhnekamskoye potassium-magnesium salts deposit. Other shareholders of the company are fertilizer producer Acron with a 60.1% stake, and Sberbank Investments with 19.9%. In 2016, the Federal Antimonopoly Service approved a deal of Acron raising its stake in the company to 100%.

(56.9201 rubles – U.S. $1)

End