PhosAgro to sell another interest in SPO

According to Russian business daily Kommersant (8 November 2012), fertiliser and phosphate producer PhosAgro, which is 70.9 per cent owned by Andrei Guriev and his family, is considering different options for a further share sale, including a potential SPO. For the time being the company is waiting until the GDR price on the London Stock Exchange exceeds USD 14 per GDR, compared to USD 13.48 at present.

It is anticipated that Guriev may sell a 10.9 per cent interest and then use the proceeds to buy back shares from a new share issue and also to build an ammonia production facility.

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