30 June 2020
Acron Group Promoting Cooperation with Financial Partners
under the Talitsky Potash Project
Otkritie Bank has acquired a stake in VPC's Talitsky potash project. The
acquisition was made via Closed-end Mutual Fund Otrkitie, a member of
Otkritie Bank. Having sold 10.1% of VPC shares to the Bank, Acron Group
reduced its stake in the project to 50%+1 share.
The other Talitsky stakeholder is Sberbank Investment, which holds two
stakes of 20% and 19.9%. Earlier this month, Sberbank Investment decided
to extend the term of its 19.9% stake in the Group's potash project.
Acron Board of Directors Chairman Alexander Popov commented on the
"We are happy that Otkritie Bank has joined our major potash project.
Acron Group has been focused on strengthening long-term cooperation with
its financial partners. We would like to thank our partners for their
participation in the project, which adds flexibility to the project in
the current macroeconomic environment.
We have entered the final stage of building vertical shafts. With the
banks' support, in the future, we will be able to proceed to
constructing the ground facilities and the underground mine, taking into
account market conditions and needs."
Viktor Nikolaev, member of the Management Board, Corporate and
Investment Block Executive at Otkritie Bank:
"For us, this acquisition is an attractive investment opportunity, the
first step towards implementation by our partner, Acron Group, of a
large investment project that will help create an export-oriented
production facility with an annual extraction volume of 7.5 million
tonnes of ore and production capacity of 2.0 million tonnes of potassium
chloride per year."
Phone: +7 (495) 777-08-65 (ext. 5196)
Phone: +7 (495) 745-77-45 (ext. 5252)
Acron Group is a leading vertically integrated mineral fertiliser
producer in Russia and globally, with chemical production facilities in
Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group
owns and operates a phosphate mine in Murmansk region (North-Western
Phosphorous Company, NWPC) and is implementing a potash development
project in Perm Krai (Verkhnekamsk Potash Company, VPC). It has a wholly
owned transportation and logistics infrastructure, including three
Baltic seaport terminals and distribution networks in Russia and China.
Acron's subsidiary, North Atlantic Potash Inc. (NAP), holds mining
leases and an exploration permit for ten parcels of the potassium salt
deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a
minority stake (19.8%) in Polish Grupa Azoty S.A., one of the largest
chemical producers in Europe.
In 2019, the Group sold 7.6 million tonnes of the main products to 78
countries, with Russia, Brazil, Europe and the United States as key
In 2019, the Group posted consolidated IFRS revenue of RUB 114,835
million (USD 1,774 million) and net profit of RUB 24,786 million (USD
383 million). Acron's shares are on the Level 1 quotation list of the
Moscow Exchange and its global depositary receipts are traded at the
London Stock Exchange (ticker AKRN). Acron employs around 11,000 people.
For more information about Acron Group, please visit
(END) Dow Jones Newswires
June 30, 2020 11:28 ET (15:28 GMT)
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