VTB Group acquires 10% of Verkhnekamsk Potash Co from Acron

MOSCOW, Sep 23 (PRIME) -- Russia’s VTB Group has acquired 10% of Verkhnekamsk Potash Company (VPC) from fertilizer producer Acron, VTB said in a statement on Wednesday.

“VTB Group has acquired 10% of Verkhnekamsk Potash Company that implements the Talitsky potash project in the Perm Region. In its turn, Sberbank Investment reduced its stake in the project to 29.9% from 39.9% and extended the timeframe of its participation to seven years,” it said.

Earlier on Wednesday, Acron’s affiliate Dorogobuzh said that it had bought 10% of Verkhnekamsk Potash Company from Sberbank to execute an option deal. According to Dorogobuzh’s materials, the sum of the deal amounted to 8.081 billion rubles.

(76.2711 rubles – U.S. $1)

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