EuroChem Group AG, which bought a 51.48% in Fertilizantes Heringer last year (GM April 1, 2022) for R$554 million (US$116.4 million), in December launched a second public offering for the remaining minority shares. EuroChem plans to take the company private. EuroChem is now offering a R$19 per share based on a second appraisal that priced the shares in the R$18.96-R$20.86 per share range.
The second offering is expected to conclude in the first quarter, with one minority shareholder telling the Valor Economica that the share price could eventually top R$21.00.
An earlier attempt to buy out minority shareholders failed (GM Dec. 2, 2022; Sept. 2, 2022). A previous appraisal concluded that a fair price would be in the R$11.48-R$12.62 per share range, which was reportedly below the R$15.00 and above where the shares had been trading on the stock exchange.