Berezniki-A Perm Territory Arbitazh Commercial Court has issued a temporary injunction prohibiting the implementation of the merger agreement of Uralkali and Silvinit. The companies said the injunction does not affect completion of acquisition by Uralkali of 20 percent of Silvinit’s ordinary shares. The court preliminary hearing on the merits of the claim is scheduled for April 12, 2011. Uralkali and Silvinit believe that the injunction and the claim brought by minority Silvinit shareholders, including Acron, are entirely without merit and intend to contest them vigorously. The merger had been expected to close by the end of the first quarter.
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