The shareholders of Murmansk trading sea port OJSC (MTSP) approved 85% stake acquisition in Agrosfera CJSC from EuroChem for 725.7 mil rub, said in the port's announcement.
MTSP's BOD had approved the transaction in April. In case of closing the deal, the port will consolidate 100% in Agrosfera.
Agrosfera has been part of EuroChem since 2004. It owns a specialized dry mineral fertilizers transshipment terminal in the sea port of Murmansk (with access to the Atlantic Ocean). The terminal has 3 storage facilities with total capacity of 45,000 tons.
Murmansky trading sea port OJSC was founded in 1994 is second largest port in North Western part of Russia.
Port's authorized capital stock makes 227.37 mil rub. Principal shareholders are Rosimushestvo (25.5%), Bank Evrazia CJSC, Laterium Commercial Ltd. (12.68%), Diamat Trading Commercial Ltd. (12.48%), RFFI (0.0033%).
MTSP's net profit under RAS made 238.1 mil in 2006, that is 23.7% less the in 2005 - 312 mil rub. Revenues decreased by 2.1% to 1.56 mil rub from 1.59 bln rub.
The EuroChem Mineral and Chemical Company is the largest fertilizer producer in Russia, one of the top three European and top ten global leaders in this field. The company comprises a wide range of mining and industrial enterprises, as well as transport divisions, and a broad marketing network in different regions of the world with around 30,000 employees. Its manufacturing enterprises are Nevinnomyssky Azot (Stavropol Territory), Novomoskovskaya Stock Company Azot (Tula Region), Kovdorsky Mining-and-Processing Integrated Works (Murmansk Region), Phosphorit Industrial Group (Leningrad Region), EuroChem - Belorechenskie Minudobrenia (Krasnodar Territory) and Lifosa AB (Lithuania).
EuroChem's net profit under IFRS decreased in 2006 by 22% to $257 mil.
Principal EuroChem's shareholder in MCC Holding with 99.9%. Andrei Melchenko is the owner.
EuroChem ranks 19 in the list of Russian Leading Companies, by the results of 2005, published by AK&M in Sept 2006.
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