Moscow — The Acron Group announced on May 16 a tender offer to purchase up to 66 percent of the shares of Polish company Zaklady Azotowe w Tarnowie-Moscicach S.A. Investors may tender between June 6-22. The offered price is PLN 36 per share, representing a premium of 18.3 percent over Azoty Tarnow’s six-month average market price and 12. 1 percent over the May 15 close. Acron is a mineral fertilizer and ammonia producer and has a diversified portfolio, including some 40 chemicals. Azoty Tarnow has several chemical groups, including nitrogen, multi-component and mineral fertilizers, plastics, and OXO alcohol. In 2011, the company generated PLN 5.3 billion in revenue, with PLN 770 million in EBITDA and PLN 499 million in net earnings. Poland’s State Treasury is its largest shareholder, with 32.05 percent.
Transparency Across the Fertilizer Value-Chain